A New Social Media Challenger LYKA Launches for SE Asia Market

2019-05-23 16:38 1142


SAN FRANCISCO, May 23, 2019 /PRNewswire/ -- An innovative new application is preparing for launch in SE Asia. Lyka -- a Silicon Valley and Hong Kong-based company which describes itself as a "Social Wallet that Pays for Passion" -- is designed for both individuals and businesses that encourage engagement and content creation by compensating users for time and creativity. Instead of creating free content in other social media platforms such as -- Instagram, Snapchat, TikTok and Facebook -- Lyka users have the ability to connect with other influencers and brands getting paid instantly.


According to Ryan Baird, CEO of Lyka, the app was developed as a way to connect users and brands together for mutual benefits. "I am excited with this venture because as a Silicon Valley veteran and a maverick venture capitalist who has worked with Morgan Stanley and the like, I know the future is really in the start-up and technology space." He adds, "Lyka can help both individuals and businesses. With Lyka, mom and pop stores to mammoth conglomerates - can engage influencers or users to promote their products and services. In turn, the users can get paid instantly by the clients by sending Lyka Gems to their e-wallets."

Lyka is available to anyone and all users have the ability to earn Gems. By engaging and rating content, creators will earn varying levels of compensation based on the ratings they receive. Users begin earning as soon as content is posted. Once a user signs up, he is deemed an 'influencer' in his niche and will have access to uploading and sharing content. 

Merchants interested in connecting with influencers can do so through Lyka just as they would create a profile page on other social media platforms. Once created, merchants and businesses have the ability to print QR codes which allow for Lyka Gems to be used as cashless payment on their establishment, and these Gems can also be exchanged for cash.

"With Lyka, everyone will be able to pursue his or her passion," Baird says. "Everyone can be a brand ambassador. It bridges the gap between merchants and consumers. Users will post and share what they want. They will then receive Lyka Gems. The brands in turn will get paid Lyka Gems and receive immediate recognition and, naturally, consumption. It's the future of social media."


Baird explains, "People can promote any brand using Lyka. Clients can get in touch with users to immediately promote a brand. Lyka Gems can be used as down payment. It's similar to the Facebook wall, but better. When you post something, interested consumers will get in touch with you and can pay you immediately with Lyka Gems."

People are used to sharing content everywhere they go. Lyka takes sharing to a new level by providing compensation for content otherwise shared for free. For example, a user takes a photo of a meal at a popular restaurant and gets enough Gems based on ratings and engagement, the user could then pay for the meal using the Gems via a cashless transaction. Now that is a game changer.


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Source: LYKA