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

[PRESS RELEASE – Los Angeles, California, February 7th, 2024]

Key studying factors

• Focus, the revolutionary new decentralized SocialFi app, raised $75 million in a single week
• Focus competes with subscription platforms like OnlyFans and Patreon, a multi-billion greenback trade
• Customers can reserve 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 accumulating over $75 million in token reservations within the 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) was constructed by DeSo, the workforce that raised $200 million from Coinbase, Sequoia, a16z, Polychain, and different high funds. It goals to disrupt the trillion-dollar social media market and creator economic system by introducing breakthrough options that rival X, Onlyfans and Patreon.

The whole addressable marketplace for this sector is substantial, with OnlyFans anticipated to deal with roughly $8 billion by 2023, whereas charging a 20% transaction payment. These excessive charges considerably scale back creators’ income, highlighting the necessity for a fairer answer.

Focus combines one of the best of Onlyfans, Patreon,

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

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

“The response we now have acquired has been nothing in need of spectacular. It is a testomony to the neighborhood’s perception in a decentralized future for social media. Our platform is not only about reshaping social media; it is about empowering customers and creators in a method that is by no means been achieved 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 area of standard social media.

Focus goals to revolutionize the best way we talk on-line by providing creators unprecedented monetization alternatives, mixed with superior AI instruments, whereas addressing the challenges of censorship and content material authenticity .

Due to the DeSo blockchain and the Revolution Proof of Stake system, Focus will help storing content material instantly on-chain at 1/10,000th of a cent per publish, which is way lower than Solana at ~$1 per publish or Ethereum at ~ $1 per publish. $100+ per message.

One of many fundamental options that attracts customers to Focus is the flexibility to order $FOCUS tokens. This course of is just like staking, with a novel twist: customers can reserve tokens utilizing a number of supported currencies akin to BTC, ETH, SOL, USDC, and DESO.

Focus permits anybody on the planet to turn out to be an proprietor, even earlier than the app launches. Think about proudly owning a chunk of Meta or Twitter earlier than it was even launched. Customers who take part within the early reservation interval should buy $FOCUS tokens and also will obtain an extra bonus equal to the said quantity, at present set at 90% and lowering by 5% each week till the launch of the app. This can be a profit supposed to reward early supporters and adopters of the platform.

The reservation course of is straightforward to make use of and totally refundable, permitting members to confidently help the platform whereas sustaining monetary flexibility. As Focus prepares to launch the app, the joy throughout the neighborhood is palpable. With its progressive method to tokenomics, Focus is poised to redefine the social media and cryptocurrency panorama.

To order tokens and earn a 90% bonus in $FOCUS, potential customers should go to Focus.xyz and reserve their funds by February 8, 11:11 AM EST. The bonus decreases 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, the best way Bitcoin and Ethereum decentralize the monetary world. DeSo has achieved vital adoption and has 2.6 million customers (wallets) and 93 million transactions. With Focus, DeSo goals to usher in a brand new period in crypto, led by superior client apps that scale to billions of customers.

Contact

Head of Progress
Ed Mos
DeSo Basis
ed@deso.org