Octi app is the new kid on the block, it shuns ads and wraps arms around metaverse, posing a challenge for other social networks like Instagram, TikTok, and Facebook.
With Facebook parent company Meta facing criticism over security issues, the Los Angeles-based Octi sees an opportunity. Furthermore, other TikTok, Snapchat, and YouTube are also being grilled by legislators over concerns about targeted ads, privacy, and other safety concerns for young users.
Octi is a teenage-centric app, available on Apple App Store now. The app has no ads on its platform like most other social media apps. The source of its earning is from the likes, these can earn users Octi coins to buy digital items. Users can also buy real-world items from brands such as Funko, Nike, and Reebok.
According to Justin Fuisz, Octi co-founder and CEO, “If you think about it, what we’re dealing with today on social media is just an extension of TV ads. With this model, you can kind of move away from that … to pull this back into a safer, more creative place.”Octi app is currently being tested by more than 1000 users and has been in action for the last two months. The app has also been working on augmented reality and the integration of shareable video and digital objects for more than three years.
The app enables its users to embellish TikTok videos by adding 3D digital objects or putting themselves in virtual landscapes. They can also accumulate Octi coins if they get likes. Objects can be deployed by users in their video creations, though owners gain coins as objects are used and gain likes.
Users can also use the Octi coins to get a discount on purchases of sneakers, clothing, and other products.
Currently, Octi also offers its users to sell their digital objects and upload NFTs for use on the platform. In the near future users will also be able to buy Octi coins, though currently they are free and earned through participation.
It still remains to be seen how Octi will combat hate speech, bullying, and other issues plaguing current social networks. Fuisz said, “the lack of reliance on advertising – and the need for user views of those ads – changes the paradigm.”