Hornet has developed an exciting concept known as The Hornet Economy. This is our name for the life cycle of our virtual currency called Honey.
This is what it looks like.
But let’s back up: Why does Hornet need a virtual currency?
For some time now, you have been telling us that you want to reward the awesome content produced by fellow users, and now you can! Show a user how much you like their photos and videos by sending them an Award. Sending an Award not only rewards that user; it’s a great way of getting noticed. And likewise, if you are producing great content yourself, now others can show you some love by sending you Awards. Best of all, more than a meaningless platitude, these Hornet Awards can actually be exchanged for products, services and cash.
How it all works is easy.
The Hornet Economy allows you to monetize the content you produce, by redeeming the Awards you receive. Simple.
Let’s break it down into the individual steps:
- A user purchases Honey from the app store or our web shop at hornet.com/shop.
- The user sees an awesome post and rewards it by sending an Award. This 3 click process seamlessly deducts the value of the Award from that user’s Honey balance.
- The receiver of the Award is automatically credited with Hornet Points, equivalent to the value of the Award.
- The receiver can then redeem these Hornet Points for items in the Hornet Webshop.
So, although our currency is virtual, you can end up with tangible goods and services, even cash! Produce consistently awesome content, get rewarded with Awards, and those points quickly add up! Before you know it, you can trade Hornet Points for Hornet Premium, a Hornet T-shirt or turn them into an Amazon gift card, all from the comfort of your home and without spending a dime. All for doing what you are already doing!
You can also earn Hornet Points directly, by contributing to Hornet. If you want to learn more, check out our contributor community groups and see how you can earn Hornet Points at https://hornet.com/contributors/programs.
And there is more! You can use Honey to unlock Hornet features. These micro transactions will pop up when available. There will be a small Honey cost to unlock a certain feature for a short time.
We know you’re super excited and raring to go, but, let’s break this all down a bit more so you’re familiar with every little detail.
HoneyQ. What is Honey?
A. Honey is Hornet’s new virtual currency.Q. How do I know how much Honey I have?
A. Your Honey wallet can be found either on your profile page or at the top navigation bar, above video stories. It’s a cute little rainbow hexagon. Simply tap on it and it will open your Honey wallet and show your balance. It is also where you can purchase Honey from. To find the Honey wallet on your profile, just tap on your avatar in the bottom navigation bar and you’ll see the new Honey icon on top of your profile photo. Tapping this will open your Honey wallet and show your balance.Q. How do I get Honey?
A. Purchase Honey from the App Store or from our web shop. The easiest way is to go into your Honey wallet on your profile and that takes you through the easy steps. You can also add Honey to your wallet when you try to spend your Honey but don’t have enough.Q. How do I use Honey?
A. Honey can be used to give Awards, a way of showing appreciation for an exceptional Moment or Video. In addition, subject to availability, Honey may also be used to unlock various special features. If a particular feature can be unlocked using Honey, you’ll see the Honey icon as well as the cost to unlock that feature. We’ll be adding cool new ways to spend your Honey in the future.Q. Can I send Honey to another Hornet user?
A. No, Honey can’t be transferred to another Hornet profile, even if that other profile is yours.Q. Why should I use Honey?
A. Honey is convenient, affordable, and secure. Using Honey to send awards enables you to encourage Hornet members to create more exceptional content and improve the quality of your feed, and using Honey to unlock special features makes Hornet more powerful at an affordable price.
AwardsQ: What are Awards?
A: Awards are a way of showing appreciation for exceptional content. By sending an Award, you are thanking the guy who posted the content and also helping to highlight great content in the feed to other users.Q: How do I send an Award?
A: On each Moment in the feed, you’ll find a new Award icon — simply tap that to reveal the collection of awards to choose from. We have created a collection of Awards to express your individuality. Select the Award you wish to send, and tap give.Q: Can I receive Awards, too?
A: Yes! Anyone who shares content on Hornet is eligible to receive Awards from the community.Q: I received an Award. Now what?
A: When you receive an Award, your profile will automatically be credited with Hornet Points. The amount of Hornet Points you receive varies depending on the type of award/s you received.
Hornet PointsQ: What are Hornet Points?
A: Hornet Points is a type of virtual currency used by Hornet to reward its members for contributions to our community.Q: How do I earn Hornet Points?
A: Points are automatically earned every time you receive an Award on Moments or Videos you share on Hornet. Points can also be earned through contributions to various community programs, such as beta testing and moderation. Learn more about our Contributor Community Programs here.Q. How do I know how many Hornet Points I have?
A. Your points balance can be found in your Honey wallet. Your wallet can be found on your profile page. Simply tap on your avatar in the bottom navigation bar and you’ll see a new Honey icon on top of your profile photo. Tapping this will open your Honey wallet and show your balances.Q: Can I buy Hornet Points?
A: No, points can only be earned through Contributions.Q: Can I send my Hornet Points to other Hornet users?
A: No, points can only be used by you.Q: How do I use Hornet Points?
A: Points can be redeemed for various items in the webshop. You can access the webshop by simply tapping on your points balance in the app, or by visiting the shop here. There, you can select from a variety of items, such as merchandise and gift cards, to redeem your Hornet Points. We’ll consistently be adding new redemption options in the shop, so be sure to check the shop regularly to see whats new.