The anonymous founder of the after controversial BitClout undertaking has eventually come out, announcing programs to develop a $ 200 million blockchain social network.
The mysterious founder of BitClout returns to …
In March 2021, when the cryptocurrency market place was nevertheless in the “fever” of phase a single of NFT, there was a undertaking that had attracted a whole lot of focus. His identify is BitClout, with a odd working model: making it possible for celebrities to website link their Twitter accounts to BitClout, then issuing tokens based mostly on their names. The token’s worth will fluctuate based mostly on information surrounding the celebrity’s lifestyle.
That’s the notion, but BitClout only emerged briefly, then sank when the market place reversed in April-May.
Now, the founder of BitClout with the anonymous identify of diamond hands returned and announced his identity as Nader Al-Naji, who raised $ 133 million for the stablecoin Basis undertaking in 2018, only to go bankrupt and have to spend back traders. . In addition, Al-Naji launched a new, much more ambitious system and acquired much more funding.
… With the DeSo decentralized social network undertaking well worth $ 200 million
On September 21, Nader Al-Naji announced the creation of “Decentralized Social” (DeSo) – a new blockchain platform for the decentralized social networking undertaking.
DeSo has raised $ 200 million in investments from lots of significant names in the crypto room this kind of as Andreessen Horowitz (a16z), Sequoia, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Polychain Capital, Pantera Capital, Arrington Capital, Blockchange Ventures, Distributed Global , Blockchain.com Ventures, Hack Ventures, and Reddit co-founder Alexis Ohanian. Most of these are the names that joined Basis “back” in 2018. The investment quantity was produced in the type of the project’s DESO token, with a complete provide of ten.eight million units.
Al-Naji uncovered that DeSo will essentially create in accordance to the conventional social network model like Facebook and Twitter. Users can generate individual profiles, then publish articles associated to cryptocurrencies, as properly as deposit tokens and NFTs. These attributes also permit consumers to earn cash from DeSo.
DeSo consumers will have to hold the DESO token of the social network. DESO will be utilized to generate profiles, publish content articles, send tokens, acquire NFTs, give “diamonds” to some others. Al-Naji stated the platform’s intention is to motivate as substantially action on the DeSo blockchain as feasible to generate demand for the DESO token.
“Similar to Ethereum, the more open the DeSo blockchain is and the more independent applications are built on it, the more transactions there will be on it, making the DESO token more and more valuable.” – Said the founder Nader Al-Naji.
The following DESO token will be listed on AscendEx and Blockchain.com.
Al-Naji stated there are now much more than a hundred applications below development on DeSo, such as BitClout (social token network), Polygram.cc (NFT market place platform), BitCloutPulse (exchange), Clubrooms (gaming application). , ..
He also claimed that BitClout was a check of DeSo’s feasibility and that it was effective.
With the $ 200 million raised, DeSo will generate a non-revenue DeSo Foundation to coordinate the advancement of the blockchain, as properly as assistance tasks that want to develop on it.
Question marks for DeSo
Despite Nader Al-Naji’s “eloquent” statements over, we nevertheless know pretty very little about this blockchain. So far DeSo has no official web-site, no undertaking whitepaper, no details on token allocation, no official social media accounts, and no way to know if the blockchain is up and operating.
The notion of building a cryptocurrency social network is not new, due to the fact there have been lots of tasks that adhere to this model, usually Steemit and Minds. However, their degree of results is not higher, a single is due to the fact they have to compete with conventional social networks, which are by now as well well-known and have powerful network results and two, failing to develop a token economic system capable of retaining consumers. These are the challenges that DeSo will have to encounter.
Twitter CEO Jack Dorsey himself confirmed that his social network is also producing in the route of decentralization and is preparing to permit consumers to connect to Bitcoin and Ethereum wallets to transfer cash.
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