Decentralized Social

DeSo announced the launch of the Octane Fund, a $50 million decentralized social ecology Fund, to support the development of a decentralized social media ecosystem. DeSo said the fund will be funded from $200 million in previous financing from A16Z, Coinbase Ventures and others.

Diamondhands has publicly revealed himself as BitClout founder Nader al-Naji, and the 29-year-old is once again on the crypto scene with VC Dayclub-endorsed DeSo. Nader al-Naji believes that decentralized socializing will in the future harness the ingenuity of the entire world, rather than acting as a centralized team. "We want users to own their data, and we want users to own the money they make from that data. With DeSo, we can make social network data available to anyone." Nader al-Naji said in an interview. Nader al-Naji, meanwhile, said in an interview that he had done so anonymously because he believed it would motivate the community to decentralize the ecosystem more quickly, and that the more people could not rely on centralized entities to dictate terms, the more they would be able to improve and build upon the ecosystem. So far, more than 100 developers have started building applications on the DeSo blockchain, confirming Nader al-Naji's vision. And now Nader al-Naji thinks it's time to step up and let people know about DeSo, about himself, and have a real public voice and channel to tell DeSo's story officially.

The social networking platform BitClout has revealed the names of those backers, including some of the biggest names in crypto funds, Sequoia Capital, Andreessen Horowitz (A16Z), Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Arrington Capital, Polychain, Pantera, DCG (CoinDesk's parent company), Huobi, Variant, and more.

Social networking platform BitClout has launched. BitClout is a new kind of blockchain-based social media that, unlike regular social media, has accounts that issue their own community tokens (similar to Roll or Rally), according to an official white paper released by BitClout. One member of BitClout's team, who goes by the alias Diamondhands (actually BitClout founder Nader Al-Naji), confesses that what's innovative about BitClout is betting on creators as an asset class rather than content itself, That's the difference between BitClout and other encrypted social media. "If you have a creator you can speculate on, you can invest in the long term," says Diamondhands. "The content itself doesn't have that kind of long-term value." BitClout has created quite a stir with that clout. At launch, BitClout has automatically signed up 15,000 of Twitter's most influential users and claims they can claim their BitClout accounts with a tweet at any time. But BitClout has drawn criticism for putting twitter users' profiles on his platform without their permission, with some calling it a scam.