Within the first week of its launch, Focus, a new decentralized SocialFi program based on the DeSo blockchain, garnered almost $75 million in token reservations, creating a stir in the cryptocurrency world.
This remarkable accomplishment highlights the platform’s potential and the growing interest in decentralized social media.
DeSo, the group that raised $200 million from major firms like Coinbase, Sequoia, a16z, and Polychain, is the developer of Focus (focus.xyz). It wants to upend the trillion-dollar social media industry and the creative economy by launching innovative services that compete with Patreon, X, and Onlyfans.
There is a sizable potential market for this industry overall; OnlyFans anticipates processing about $8 billion in transactions at a 20% charge in 2023. Because of these hefty costs, creative profits are severely reduced, underscoring the need for a more equitable approach.
Focus provides permissionless and anonymous crypto-native monetization features that are not available in web2. It also integrates the greatest parts of Onlyfans, Patreon, X, and other billion-dollar social platforms into a one app.
Built on the Decentralized Social (DeSo) network, Focus sets itself apart with an original strategy for user interaction, content ownership, and creative income.
Nader Al-Naji, the founder of DeSo and the creative force of Focus, responded to this enormous accomplishment by sharing his observations:
“The response we’ve received is nothing short of spectacular. It’s a testament to the community’s belief in a decentralized future for social media. Our platform is not just about reshaping social media; it’s about empowering users and creators in a way that’s never been done before. This milestone is just the beginning of our journey towards a more decentralized social landscape.”– Nader Al-Naji, Founder of DeSo
The objectives of Focus go beyond traditional social networking.
Focus seeks to transform the way we communicate online by providing creators with previously unheard-of income opportunities and cutting-edge AI capabilities, all the while addressing censorship and content authenticity issues.
Focus will enable content storage directly on-chain for 1/10,000th of a cent each post, which is significantly less than Solana at about $1 per post or Ethereum at about $100+ per post, thanks to the DeSo blockchain and its Revolution Proof of Stake mechanism.
The ability to reserve $FOCUS tokens is one of the main draws for users to Focus. With a novel twist, users can reserve tokens using a variety of supported currencies, including BTC, ETH, SOL, USDC, and DESO. This method is similar to staking.
Even before the app launches, Focus enables everyone in the globe to become an owner. Can you imagine being a part of Twitter or Meta before they were even released? In addition to purchasing $FOCUS tokens during the early reservation period, users will earn an additional bonus equivalent to the stated amount, which is now set at 90% and will decrease by 5% per week until the app launch. This perk is intended to thank the platform’s early adopters and supporters.
Easy to use and totally refundable, the reservation method guarantees that participants can support the platform with confidence and financial freedom. There’s a tangible sense of excitement in the community as Focus gets ready for its app launch. Focus is positioned to completely change the social media and cryptocurrency market with its creative approach to tokenomics.
Prospective users should visit Focus.xyz and reserve their assets before 11:11 am EST on February 8th to receive tokens and earn a 90% bonus in $FOCUS. Weekly additional drops will occur until the app launches.