Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week

Los Angeles, California, February seventh, 2024, Chainwire

Key Takeaways

• Focus, the revolutionary new decentralized SocialFi app, raised $75 million in a single week
• Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar trade
• Customers can reserve with DESO, BTC, ETH, and extra to earn a 90% bonus in $FOCUS tokens for a restricted time

Focus, a brand new decentralized SocialFi app constructed on the DeSo blockchain, has made waves within the crypto trade by amassing over $75 million in token reservations inside its first week of launch.

This unprecedented achievement not solely demonstrates the platform’s potential but additionally displays the rising curiosity in decentralized social media.

Focus (focus.xyz) is constructed by DeSo, the workforce that raised $200M from Coinbase, Sequoia, a16z, Polychain, and different high funds. It goals to disrupt the trillion-dollar social media market and creator financial system by introducing groundbreaking options rivaling X, Onlyfans, and Patreon.

The whole addressable marketplace for this sector is substantial, with OnlyFans projected to course of roughly $8 billion in 2023 whereas charging a 20% transaction price. These excessive charges considerably minimize into creator earnings, emphasizing the necessity for a fairer resolution.

Focus combines one of the best of Onlyfans, Patreon, X, and different billion-dollar social platforms into one app and options permissionless and nameless crypto-native monetization options that aren’t doable in web2.

Constructed on the Decentralized Social (DeSo) blockchain, Focus distinguishes itself with a singular method to content material possession, creator monetization, and consumer engagement.

In response to this overwhelming achievement, Nader Al-Naji, the Founding father of DeSo and visionary behind Focus, shared his insights:

“The response we’ve acquired is nothing wanting spectacular. It’s a testomony to the neighborhood’s perception in a decentralized future for social media. Our platform is not only about reshaping social media; it’s about empowering customers and creators in a manner that’s by no means been executed earlier than. This milestone is only the start of our journey in direction of a extra decentralized social panorama.”– Nader Al-Naji, Founding father of DeSo

Focus’s mission extends past the realm of standard social media

Focus goals to revolutionize the best way we work together on-line by providing unprecedented monetization alternatives for creators, coupled with superior AI instruments, whereas additionally tackling the challenges of censorship and content material authenticity.

Because of the DeSo blockchain and its Revolution Proof of Stake system, Focus will assist the storage of content material immediately on-chain for 1/10,000th of a cent per put up, which is far lower than Solana at ~$1 per put up or Ethereum at ~$100+ per put up.

One of many key options attracting customers to Focus is the chance to order $FOCUS tokens. This course of is akin to staking, with a singular twist – customers can reserve tokens utilizing numerous supported currencies comparable to BTC, ETH, SOL, USDC, and DESO.

Focus permits anybody on the earth to develop into an proprietor, even previous to the app launch. Think about proudly owning a bit of Meta or Twitter earlier than it was even launched. Customers who take part within the early reservation interval is ready to purchase $FOCUS tokens, and likewise receives an additional bonus equal to the quantity listed, at the moment set at 90% and drops by 5% every week till the app launch. It is a profit designed to reward early supporters and adopters of the platform.

The reservation course of is user-friendly and absolutely refundable, making certain contributors can confidently assist the platform whereas sustaining monetary flexibility. As Focus gears up for its app launch, the joy inside the neighborhood is palpable. With its progressive method to tokenomics, Focus is poised to redefine the panorama of social media and cryptocurrency.

To order tokens and earn a 90% bonus in $FOCUS, potential customers ought to go to Focus.xyz and reserve their funds earlier than 11:11 am EST on February eighth. The bonus will drop each week till the app goes stay.

About Deso

DeSo is the primary and solely censorship-resistant Layer-1 blockchain purpose-built to energy storage-heavy apps and scale decentralized social networks for mass adoption. Their mission is to decentralize social media like Bitcoin and Ethereum are decentralizing finance. DeSo has gained vital adoption and boasts 2.6M customers (wallets) and 93M transactions. With Focus, DeSo goals to usher in a brand new age in crypto led by cutting-edge shopper apps that scale to billions of customers.

Contact

Head of Progress
Ed Moss
DeSo Basis
[email protected]