Five Social Networking Sites That Lets You Make Money

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Most of us netizens spend a lot of our time on Social Networking sites such as Facebook, Twitter, Google+ etc. While we invest (or waste) our time these social networking sites make money from it. If these sites are earning through the user-generated contents then why not the users it self are paid. That puts us to a hundred (if not million) dollar question: how to make money using social networking sites on internet?

Internet is a fast changing sphere. One doesn’t need to invest a fortune to earn on internet. Blogging has given a new dimension to world-wide web and new power to an average user. The user-generated contents from these blogs are ruling the internet world and the bloggers earn for their effort. That said, if blogging lets a person earn then why not social networks? After all, it too has plenty of user-generated contents. Why should the social network sites should have all the rights over it? On the same thinking line, there are few new social networks that let you earn money in one way or other. In this post we shall what are these social networks that pays you money and in what way.

MyCube:

A Singapore based startup MyCube was probably the first one to jump to this idea of paying money to users for their content. It even coined terms like “Social Exchange” and “Content Exchange”. You earn some of it when you join the site and then you can put your photos, videos, article etc and put a price on it. Apart from this you can of course socialize with other members. A detailed review of MyCube can be found here.

Lockerz:

Lockerz is a shopping oriented site. Users upload their content mainly photos and videos, similar to . When other users follow you and reshare or like your content, you earn some points. It doesn’t pay you cash but you can redeem these points to get discount from a number of brands partnered with Lockerz. Even if you don’t buy anything, there is plenty to “window shop”. Shopaholics must give it a try.

:

This one pays you for doing what you already are doing on internet, viewing content, uploading photos, videos, watching photos and videos, making new friends. So, what is the deal here? Klikot analyses the traffic you bring to its site through your content and at the end of each fiscal month it pays you if you have crossed a certain threshold. Moreover, you will also earn from the income of 5 of your friends who joined through you.

PowerVoice:

Honestly, it is not a social networking site. Don’t get disappointed because it is even better. Here you can make money using your existing Twitter and Facebook account. The idea is to promote some specific products from advertisers. You will get a unique link which you can share on your Facebook page/timeline or tweet it. Based on the clicks and/or purchase of the product you will get your cut.

RedGage:

RedGage, to some extent, is similar to Klikot. User uploads photo and videos and depending upon the number of views it gets paid in real money. User will earn bonus money if his/her content is featured on the main page. An import option allows user to import contents from other sites to provide comfort. A similar site is People String which is not mentioned separately because it is too similar to Klikot and RedGage.

Do you think these sites have the ability to compete, to a certain level, with the existing social media giants? Do you think that existing social networks should also pay users for their content instead of making money themselves? Please let us know your views in the comment section.

Review: MyCube: A new Social Networking Platform that lets you make Money

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For those early adopters, here is a new social networking platform to try: MyCube. Started by a Singapore based and led by a strong team consisting of serial entrepreneurs and seasoned operational managers with experience from Netscape, RealNetworks, Yahoo, eBay, Let’s Buy It and Icon Medialab, MyCube claims to be word’s first Social Exchange site. What it means is that it lets user own the digital content and share it (either with friends of common or with public with common interest).

It is very focused on user’s privacy and doesn’t share the information in public without user’s consent. User connects with people who are most relevant to him. It has Interests feature (similar to Sparks in Google Plus, actually Google copied the idea from MyCube) where user can select the area of interests and feeds from sponsored agency (like a news magazine) or from other users (if they share it publicly) can be viewed on its home page thus bringing the most relevant information. Here is how my profile looks like:

The idea of social exchange is focused on giving user the control of his/her digital life i.e. it lets user own the data he shares. Unknown to most, the majority of social networks own the content you upload to them, and thus own the right to monetize it. According to a study in a year 360 Billion User Generated Content (Pictures, Videos, Links etc) are uploaded on Facebook in a year and Facebook makes $1.86 Billion out of it. So, Facebook makes money out of users’ content.

In MyCube, user owns the information it updates and shares. MyCube has its own virtual currency called Cubes (1 cube = 0.0.1 Singapore Dollars) which can be used in trading the information. It is ideal for people who have expertise in some field. They can share their work with others (MyCube lets you allow to whom you want to share the information with and in which category).

In a nut shell, MyCube has the following features:

  • Focuses on giving user the control and privacy
  • Lets users interact with people with common interest
  • Provide the ability to monetize the digital life (The best thing)

If you want to join MyCube you can request an invite by entering your email id or by using the invite code “friend” or “tk500” in http://beta.mycube.com/. First 50,000 users will get 1000 cubes. So, what are you waiting for? Hurry Up!

Questions, suggestions and feedback are most welcomed.