Yuser app targets NFT creation to encourage digital currency payments – PaymentsSource


As it seeks to disrupt the social media model of capitalizing on user content and data, Canadian technology company Yuser is launching an app that will create and market ways to sell digital works online.

Yuser’s media-sharing app will include ways to create non-fungible tokens, a trend in which the NFT asset is protected by distributed ledgers and tokenizes digital products like art or films. The process essentially treats the content like currency by which the creator can earn revenue through sales.

Content creators and brands using the app to generate NFTs would sell those digital works on the third-party OpenSea platform in order to earn digital currency.

“NFTs are the most highly regarded smart contract that blockchain technology today has to offer,” Yuser CEO Tom Cermak said in the Tuesday press release. “We are proud to be able to help creators better protect their digital rights and monetize their works as we envisioned back in 2018 when we started Yuser.”

London, Ontario-based Yuser is working with film, mixed media and artwork content creators to help curate initial NFT sales, the company said.

The launch of NFT creation and marketing tools coincides with Yuser’s marketplace integration with the Shopify e-commerce platform in North America.

The e-commerce partnership allows users to purchase an array of products online using their earned digital currency called Gems. Users can also spend Gems in participating brick-and-mortar stores.

“Whether you are a graphic artist, musician, photographer or filmmaker, you can participate over Yuser in the growing NFT market space, which has already expanded to well over $1 billion,” Eunika Sot, chief operating officer at Yuser, said in the release. “The world needed to catch up to the notion and importance of NFTs, and now that the word is out, we’re ready to help creators shape the future of social media.”

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