Genuine Retweets is changing lives, according to its founder and CEO, Nick Numas. He feels “humbled” by the impact his company is having, especially on those living in less developed countries, where in some cases it has “doubled some people’s wages.”
“We receive letters from people that we apparently change their lives with the earnings they get from Genuine Retweets.”
The Genuine Retweets platform, which is exclusively on Twitter, allows promoters who it signs up to earn money by retweeting, commenting and liking posts. In return, they receive instant payment into their Bitcoin SV wallets. For businesses, it offers a paid service that distributes their tweets and increases engagement with them.
It’s not just about the money for Nick though. He wants to “re-educate people…to show them your presence is valuable online, and we foresee in the future there’ll be a lot more type of business operations which compensate people for their presence online.”
Genuine Retweets’ promoters are moderated to ensure that only accounts with a significant following or that could be valuable to the businesses using the service are permitted to participate in the paid work.
The moderation process is something that Nick is fastidious about. He uses 15 moderators who make decisions on jobs coming in and are paid 25 cents for each moderation. In total, the team has checked through 2,400 accounts and only let 640 join as paid promoters.
“You have to be valuable to the businesses that use our service, if you’re not a valuable person i.e., if you do loads of giveaways, then your account looks really tacky or if your account looks fake and stuff like that, we won’t let you in to do the promoting.”
Nick explains to Charles Miller on this week’s episode of CoinGeek Conversations that the reason he is so particular about the accounts he signs up is down to his experience working as a marketing manager for TDXP, a trading platform.
He says that he tried giveaways to increase numbers on TDXP, but this just led to follows from robots. He workshopped the issue with a developer colleague and discovered his problems could be solved using a private Twitter account and an API.
That’s when the Genuine Retweets business was born, and he’s thrilled with its progress. “We broke even in two weeks, and we’ve made a profit every single week and we pay a full-time developer now.”
While the business is currently centred around the BSV community, Nick is keen to expand the business model. He explains that the Bitcoin community is one of many that he’s keen to tap into and is currently in talks about a music version of the service and a football one for Aston Villa.
He believes, like Dr. Craig Wright, that Bitcoin’s role should be as the ‘plumbing’ for the internet, something that sits beneath the surface and ensures the smooth running of things.
“I am very besotted with Bitcoin. If anybody can find me a better tool to do entrepreneurship on the internet than Bitcoin, I need to see it because as far as I’m concerned there is no better tool to do business with on the internet than Bitcoin.”
Hear the whole of Nick Numas’s interview in this week’s CoinGeek Conversations podcast or catch up with other recent episodes:
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