NEWS RELEASE. ReadON (readon.me), a business that intends to supply users with a new content intake experience by using blockchain, finished its seed financial investment round of $2M led by SevenX Ventures.
Other financiers consisted of HashKey Capital, Foresight Ventures, Sky9 Capital, ArkStream Capital, Puzzle Ventures, CyberConnect, M23 Fund, Smrti Lab and specific financiers. The seed financing will be utilized to establish a ReadON mobile application and a decentralized suggestion system.
Neo Y., Cofounder and CEO of ReadON, is a serial business owner who established a video games and applications business that made over 500K DAU, $10 million in profits in 2020. Neo formerly worked as the Director of Product at Qutoutiao (NASDAQ: QTT), accountable for developing the very best Play2Earn item in China with 30M daily active users.
Troy H., Co-creator and CTO of ReadON, was previously the senior innovation supervisor at ByteDance. Prior to that, Troy was a senior tech lead at Pinterest (NYSE: PINS). Troy got his Master of Computer Science from Natural Language Processing laboratory at Carnegie Mellon University.
“Traditional internet platforms have supreme authority over content distribution and user data, based on which they feed content to users instead of allowing them to choose the content they want, resulting in information silos created by algorithms,” stated ReadON’s co-founder Neo.
ReadON objectives to produce a unique distribution design by permitting the community to upvote and curate the content to allow users to gain access to premium content effectively.
Users with experience, understanding, and impact on various subjects can acquire voting power through the Topic-bound NFT system and cast their judgment on managers. With the assistance of the True-Read innovation, content customers’ reading habits can likewise alter the score of managers.
ReadON strives to draw in and bring more developers and managers into the Web3 world, improving the on-chain content community. In the future, ReadON will likewise introduce plug-ins that assist developers easily declare their ownership of content produced on Web2 social networks platforms such as Medium.
As ReadON’s co-founder Troy kept in mind, “the essence of ReadON is to give creators ownership to their contents without changing how they create and publish, allowing authors, readers and editors to profit from their contributions. ”
ReadON is a decentralized content distribution platform that has actually developed a reward system for customers, managers, and developers, together with a distinct Topic-bound NFT style. ReadON looks for to assistance users effectively and easily gain access to quality content, break info silos and check out a genuine brand-new world.
ReadON was the only job to win the Community Choice Award throughout the Solana Riptide Global Hackathon kept in April 2022. The public beta of ReadON’s mobile application will release this September.
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