Think of any social media platform you use. Your likes, shares, and eyeballs make content valuable. Sometimes they even get creators paid.
But beyond the privilege of using the platform and its several features, what do you get for this data, which some economists describe as a form of labor? For your allocation of time and social capital? Nothing. Is that fair? Attractive? Efficient, even?
Riite disrupts this paradigm. An entry that wins a contest is, by definition, exceptional. So we mint an NFT of it. Those who voted for it helped confer its greatness. So we give fractional ownership of it to them. We call this the swipe-to-own model.
Swipe-to-own empowers folks like you and me, turning us into collectors and recognizing our value. It allows creators to share their success with their supporters. It democratizes art ownership and introduces new skin-in-the-game.