First there was Bitclout, and then rally. This is why Weentar may very well best all of them..
Firstly it is important to mention that as a project we draw a lot of inspiration from the rise of Bitclout and Rally, these are two very important projects that are doing something similar to what we are building, however our project is different and this is why.
Bitclout is a genius idea with a lot of mainstream backing. The monetisation of celebrity clout on the blockchain is the next logical step for social media and this platform does just that in a Twitter-esque format. It is simple to see why it has been able to see hundreds of millions of dollars in inflow barely days after it launched. Celebrity owned cryptocurrencies are going to be the rave and a lot of interesting days lie ahead for this new form of fan ownership that takes the average social media lurker into an active participant with a lot to gain monetarily from ownership in clout of their favourite people. But ours take for this concept a step further and hopes to not make some of the mistakes we believe Bitclout made. Firstly our platform would look more like instagram/TikTok than it would look like twitter. A simple design change that is so for a reason and that is we would not only have creator tokens for sale in exchange for access to creator content but the very content itself would be written on the Weentar blockchain as an NFT that can be owned by fans and investor alike for sentimental or for reasons of possible future increased value. We are taking it a step further than they have and the success of their platform shows us that a lot is yet to be uncovered in this new digital future. It is going to be exciting times ahead. Secondly we would take permission before launching a creator coin on our platform. We believe strongly that the platform made a huge mistake by launching creator tokens without taking permission. By doing so they robbed the creators of the ability to have a real input in what would essentially be their own digital currency. It is their face on the money and as far as we can see a lot of them are not yet coming around to claim the tokens, it is for that reason that Kim Kardashian with her over 200 Million followers on just instagram has a mere market cap of less than 3 Million dollars on the platform meanwhile Chamath Palihapitiya with barely two Million followers on twitter who has indeed claimed his space on the platform has over 40 Million dollars in market cap there. The bigger celebrities with a bigger following would easily top a Billion dollar market capital and even start to rival some of the bigger projects in the cryptocurrency space by market cap alone. This is where we differ as we would be actively bringing the creators onboard and making them comfortable every step of the way.
Another mistake made was the twitter style platform that was created. Twitter is not a very friendly platform to some of the biggest celebrities. The platform though incredibly influential has also been known to foster the type of bullying that sees the biggest celebrities use the safe alternatives that is instagram and now TikTok. Instagram and TikTok allows celebrities and creators to do what they enjoy best, post beautiful content without fear of trending or being “owned” for a misconception or an outright error. It might become a lot more clearer that Bitclout was created by someone or a team who spends a lot more time on twitter than instagram or TikTok. Our platform would look a lot more friendlier to the creators, drawing design inspiration from TikTok and Instagram and allowing celebrities to decide the level of involvement of their fans or token holders by the metric that they chose.
Rally.io is another beautiful project which we admire, everything that they have done has been very important to the space. Apart from the platform itself which could use some work and have some functionality that can be fun without just the function of buying creator tokens we think that the company has not really put in the effort to get higher celebrity status persons on their platform and in so doing becoming a hotbed for indie and niche creatives. There is nothing wrong with their strategy but again ours differ because one of our main objectives is to bring mass adoption to these spaces. The bigger the celebrity the better for everyone. Bitcoin would only hit a million when there are more people willing to buy it. The problem with anything genius is that it is useless if no one uses it. We want more people in the space, we want them excited about it and to be a part of the process. We believe that celebrity tokens and NFTs have a unique opportunity to not only change the space for a new form of social media but for the entire cryptocurrency space thereby making what has long been a small corner of the internet filled with nerds and geeks a much bigger space where everyone can find utility and function as we evolve.
Join us as we build this future.
The Weentar presale would be live on the 20th of April 2021 on our website. Join us as we begin our journey to decentralise social media and create unparalleled economic incentives for both users and creators.