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The dominant players of big tech – Meta Platforms Inc. (NASDAQ: FB), Alphabet Inc. (NASDAQ: NASDAQ:GOOGL) and Twitter Inc . (NYSE: NYSE:TWTR) – collect mountains of data from each of their users 24 hours a day, 365 days a year.
While the platforms are seemingly free to use, in reality, they are extracting billions of dollars from this data.
You, and the data gold mine that you are, provide more than enough in revenue to drive these behemoths forward.
The mobile-focused, enterprise cloud platform Phunware Inc. (NASDAQ: PHUN) is one example of a company saying it is trying to change this. It believes users should be in full control of their data and, most importantly, be compensated for its use. The company reports it has worked with Fortune 500 brands, such as Fox, WWE, and the NFL since 2009, helping them best engage users in mobile ecosystems. Now, with the introduction of PhunToken (CRYPTO: PHTK), it hopes to empower consumers, too.
PHTK is a utility token, now available on Uniswap, that rewards users for their engagement and data. Phunware says the blockchain-based rewards system allows users to retain full control over their data. Consumers choose what to share and with whom.
Companies can reward their customers for profitable behavior like completing surveys, watching videos or checking into specific locations to participate in marketing campaigns.
Phunware also states that brands can use custom user interfaces to repackage PHTK to fit their brand, making it seamlessly fit into their mobile environment. Companies also receive direct, real-time access to deterministic and intent-based data for their target consumers and can reward the right consumers for their engagement.
PHTK is also a way in which brands pay for access to all the features and functionality of Phunware’s offerings. In this way, Phunware hopes to make PHTK like the picks and shovels that enable companies to mine the gold that is user data.
If you are interested in learning more about the token, check out https://phuntoken.com/
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