Pharm Tech Titans

A novel Web3 social platform referred to as Diamond is launching on DeSo, a brand new blockchain that has raised $200 million from Coinbase, Sequoia and Andreessen Horowitz.

– Diamond is the first product ever to enable all posts, profiles, social graphs and content to be hosted on a decentralized censorship-resistant blockchain.

– Posts on Diamond can be minted as NFTs, earn crypto tips and provide different novel options.

At the moment, content material is hosted on centralized platforms like Twitter, TikTok or Instagram. Many thought leaders like Elon Musk and even Twitter founder Jack Dorsey have known as for another.

Not too long ago, messages emerged between the 2 billionaire entrepreneurs regarding a blockchain-based social media platform.

“I have an thought for a blockchain social media system that does each payments and quick text messages/links like Twitter,” mentioned Musk in a single text exchange.

He continued, “Third piece is a twitter-like app in your cellphone that accesses the database within the cloud. This may very well be massive.”

However, Musk may not have to create a decentralized Twitter different because of the launch of Diamond, a Web3 social app powered by the DeSo blockchain.

Diamond is the primary platform ever to host its content and social graph on a decentralized blockchain.

By publishing content material to the DeSo chain, writers and creators can personal and management their content the identical approach they own and management their Bitcoin (BTC). This implies they can be free from censorship and acquire new methods to monetize which have never been attainable before.

For example, posts on Diamond could be minted as nonfungible tokens (NFTs), can earn crypto ideas and way more. Creators on Diamond can very simply launch social tokens that permit their followers to invest in their success – all with an onboarding that’s as easy as creating an account on a Web2 platform like Instagram.

Diamond’s selection to use the DeSo blockchain for internet hosting all of its content showcases DeSo’s distinctive strength in content storage. “Existing blockchains can not store content efficiently,” stated Nader Al-Naji, founding father of DeSo. “It prices about $50 to retailer a 200-character Tweet on Ethereum and about $0.15 to store it on Solana, Avalanche or Polygon. In distinction, DeSo is one ten-thousandth of a cent, making it the primary blockchain capable of disrupting storage-heavy functions like social, running a blog and even marketplaces,” he said.

In addition, Diamond’s integration of the DeSo wallet makes it doable to onboard Ethereum

users as well as mainstream customers. “The DeSo wallet supports both a one-click on Google log-in and a one-click MetaMask log-in,” mentioned Al-Naji. “It’s not our objective to be tied to a single chain, or actually any chain. We simply need to permit people to attach with one another no matter what ecosystem they’re a part of. DeSo is the unified social layer for all of Web3,” he stated.

That is the most recent in a recent string of successes for DeSo. The platform was listed on Coinbase earlier this year and introduced a groundbreaking MetaMask integration last week that has triggered a major value surge. It has additionally been experiencing a current surge in consumer numbers.

In a world where many are dissatisfied with traditional social media, Diamond and DeSo offer a decentralized resolution that can lastly compete with Web2 juggernauts. “DeSo is the primary and solely blockchain that allows builders to build social apps the place you can’t even inform you’re on a blockchain,” mentioned Al-Naji. “That means, for the first time, now we have a shot at lastly expanding Web3 from disrupting finance to disrupting the trillion-dollar social media trade.”

About the DeSo Basis

DeSo is a new layer-1 blockchain constructed from the ground up to decentralize social media and scale storage-heavy purposes to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, copywriter Polychain Capital, Winkelvoss Capital, Pantera and others.