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.