Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Seeking Alpha 2021-06-15 16:49:15

Sequoia Capital: new cryptocurrency BitClout gives creators and influencers 'new style of monetization'

BitClout, a cryptocurrency-based social network that recently launched on Blockchain.com, will give creators and influencers a "new style of monetization," Sequoia Capital, an early investor in the product, said on Tuesday.Shaun Maguire, a partner at Sequoia Capital, told CNBC that the crypto will give creators opportunities for direct monetization through its digital currency.Comparing the operating structure to what creators can expect on platforms like Twitter (TWTR) and Facebook's (FB) Instagram, Maguire said BitClout offers a more direct business model. As a result of the cryptocurrency, the company won't have to sell data or run ads to earn money.Earlier this year, BitClout made headlines by reserving profiles on its platform for the top 15,000 influencers on Twitter.During Tuesday's interview, Maguire declined to reveal how many of those celebrities had activated their BitClout accounts.However, he did say that many subsequent reports misunderstood the purpose of the reserved accounts. Maguire explained that BitClout simply

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.