Word of Mouth is a marketplace powered by MintChip. It is a site in which users can purchase user generated content for a price determined by the author. In addition to setting a price for the content, the author can decide to pay users to share their content, known as a payout. Here is an example to explain:
Bobby is a writer and he wants get paid for his work. Jack loves to read original content and share what he finds with his friends. Jill is friends with Jack and likes a lot of the same things he does. All three have a MintChip. All three have Word of Mouth accounts.
Bobby writes an article about the MintChip Challenge. Since his work is original and could be valuable to others, he decides to charge $0.50 for his article. He also wants people to share his content as much as possible, so he sets a $0.10 payout.
Jack finds Bobby's article and is interested in the MintChip Challenge, so he decides to pay the $0.50 to Bobby to read the full article. After being impressed by Bobby's work, Jack decides that others should see it as well and shares the article with his user-specific link.
Jill sees Jack's link on her favorite social network. Jill is also interested in the MintChip Challenge and so she purchases the article as well. Jill pays $0.50 for the article, with $0.40 going to Bobby and $0.10 going to Jack. Jill sees her user-specific share link and decides to share it with her friends as well, and the cycle continues.
In this scenario Bobby made money for his work while getting readers to share his work with others. If four more of Jack's friends purchase Bobby's article, Jack will have gotten the article for free. If nine more of Jack's friends purchase Bobby's article, Jack will have profited $0.50 just for reading and sharing an article, something he already does every day. Bobby will also have profited, having made $4.50 for his work from just eleven people reading it!
This system would allow users to be paid for what they currently do daily. While this proof of concept is only dealing with written content, there is a lot of opportunity to set up this same model with images, software, e-books or any other type of digital content. The system could be easily integrated with any number of widely used CMSs to allow a wide adoption of this model across the web. It will finally allow users to quickly monetize their work as well as incentivize others to share it.
All payments are handled by MintChip for convenience and security.