Ideamarket Launches Token Focused on Valuing the World's Information ($IMO)
Everyone feels unheard, and nobody trusts authority -- the only common knowledge we still have, is that common knowledge is broken. To fix it, Los Angeles-based Ideamarket is building free markets for valuing the world's information. "If we can build systems that capture the value of obscure genius, revolutionary information could reach the public in months, instead of decades," says founder Mike Elias.
LOS ANGELES, Feb. 2, 2022 /PRNewswire-PRWeb/ -- Everyone feels unheard. Literally everyone. In the internet age, with every ideological tribe vying for trust, attention, and world domination, there's not a single demographic that feels their voice is sufficiently respected by the world. The battle for attention is a red ocean, a chum-churned swamp of perpetual discord. As institutions try to maintain order, fringe groups cry 'totalitarianism' and retreat into niche tribes, each trying to define reality and make sense of our time, once and for all.
It's become clear the old ways of creating shared truths don't work in the internet age — the authorities have lost the public, and the public have lost all authority. No matter how reasonable attempted solutions may be, the public has no more patience for trusting others to define reality on their behalf. It's every man for himself, and no alternative in sight.
Until now. On Wednesday, February 2nd, an Ethereum-based protocol will invite the public to create shared truths without needing to trust any authority or third-party intermediary. How? Using a time-tested institution the world has enormous faith in, across demographics: a free market.
Ideamarket is a literal marketplace of ideas — a trading platform for measuring the value of the world's information. With no governing authority deciding that "this is the truth," or "that is the truth" on users' behalf, the public is finally able to unite in a shared respect for truth, without needing to trust anyone else's judgment. Ideamarket is a universal listening mechanism — it promises everyone's voice counts, in proportion to their confidence in their position, measured in capital risk. It also promises small, niche voices will get their proper hearing, as — like in any market — the greatest profit opportunities are often found when small, unlikely groups of people set out to change the world.
A year after their successful launch in February 2021, which attracted over $1 million in 24 hours and coverage in NASDAQ and Vice, Ideamarket is launching their governance and utility token — $IMO. The token, whose ticker is a cheeky reference to the shorthand for "in my opinion," will eventually enable Ideamarket's users to guide the platform's future, as well as pay for unique services and features within the Ideamarket ecosystem.
The launch of $IMO also brings multiple rewards programs: rewards for locking URL tokens (5m $IMO over 3 months), staking $IMO tokens (3m $IMO over 6 months), and providing liquidity to the ETH-IMO pair on Sushiswap (5m $IMO over 1 year). The process is intuitive and comprehensively documented in a helpful user guide on ideamarket.io.
Ideamarket's novel approach to public sensemaking has spiked controversy across the tech industry. Ethereum launch coordinator and Mattereum CEO Vinay Gupta anticipates its emergence with excitement: "Ideamarket forces paradigm change by beating people with the stick of the free market." By contrast, Wikipedia co-founder Larry Sanger has yet to be convinced: "My personal attitude is skepticism and puzzlement, but then that is my attitude toward many things."
Ideamarket turns the world's best knowledge into common knowledge, so that all of us can benefit from even the most obscure genius. Are there cancer cures, climate change solutions, or wellsprings of eternal life hiding in the deep recesses of the internet? We will soon find out.
Media Contact
Mike Elias, Ideamarket, +1(661)717-2389, [email protected]
SOURCE Ideamarket
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