Summary:
Focus, a decentralized SocialFi app developed by DeSo, has raised $20 million in less than 24 hours. The app aims to disrupt the social media market and creator economy, competing with platforms like OnlyFans and Patreon. Focus combines the best features of these platforms into one app and is built on the DeSo blockchain. It offers unique monetization features that are not possible with traditional web2 platforms and allows users to transact in various cryptocurrencies. The app also democratizes distribution by distributing 100% of fees directly to holders of $FOCUS tokens.
Introduction:
Focus, a revolutionary decentralized SocialFi app developed by DeSo, has successfully raised $20 million within a short span of 24 hours. This app aims to disrupt the trillion-dollar social media market and creator economy by introducing groundbreaking features that rival popular subscription platforms like OnlyFans and Patreon. By combining the best aspects of these platforms into one app, Focus promises to offer a more equitable solution to content creators and users.
Main Points:
1. Disrupting the Market: Focus aims to challenge major players in the social media market and the creator economy by introducing innovative features and leveraging the power of blockchain technology. It intends to offer a more equitable solution to content creators by reducing high transaction fees that significantly impact their profits.
2. Unique Monetization Features: Focus provides users with new ways to monetize their content through features such as paid reposts (decentralized ads), paid messages, unlockable content, subscriptions, and Creator Coins. These features enable users to invest directly in other creators’ revenue streams and earn income through anonymous crypto-enabled mechanics.
3. Blockchain-powered Transactions: Built on the DeSo blockchain, Focus allows users to transact in various cryptocurrencies, including USDC, Bitcoin, Ethereum, Solana, DeSo, and Focus tokens. With the Revolution Proof of Stake system, transactions on Focus incur minimal fees, enabling users to make transactions at a fraction of the cost compared to older high-fee blockchains.
4. Democratizing Distribution: Unlike traditional social networks, Focus distributes 100% of all fees directly to holders of $FOCUS tokens. This stands in contrast to the business model of existing social platforms, where a small group of venture capitalists and shareholders capture the majority of the value created by users. By democratizing distribution, Focus aims to provide a fairer and more inclusive platform for content creators.
Conclusion:
Focus, the decentralized SocialFi app developed by DeSo, has successfully raised $20 million in less than 24 hours. With its unique monetization features and blockchain-powered transactions, Focus aims to disrupt the social media market and creator economy by providing a more equitable solution to content creators. By distributing 100% of fees to holders of $FOCUS tokens and introducing a viral airdrop model, Focus aims to democratize distribution and reward users based on their influence. The app plans to support various popular platforms at launch and aims to scale to billions of users, ushering in a new age in crypto-led consumer apps.