The amount of friends and followers people have across their various social media accounts has long been considered valuable. But now, a pop-up in New York, opened by OnePiece, is letting customers literally pay with their social media followers.
A severe recessionary decline, coupled with the emergence of a networked knowledge economy, has caused society to reassess notions of wealth and luxury. No longer satisfied with traditional monetary values, people are hacking the system.
If transactions can be intangible, could they become entirely incalculable? At The Merit Shop, money is meaningless. Instead, goods are purchased in exchange for interesting talents and skills, questioning the true definition of 'value'.
Brands are combining the power of surprise and real-time agility with social media to deliver little moments of joy to their customers. However, there is concern that those with less social currency are unlikely to get the same perks.
Brands want people to interact with their products and services - because interaction can take on value as an alternative to traditional currencies - and they're constantly searching for the best exchange rate. But what's in it for consumers?