Weentar, the rising blockchain-powered social media startup, entered the final stages of development last Friday, inviting the first set of users to test its highly-anticipated web application.
The news signals that a public product launch is just weeks away, ready to take advantage of the NFT mania currently sweeping the internet. This follows a recent announcement from the project’s CEO, Eduardo Fonnegra, stating that Weentar would be ramping up marketing efforts and outreach to content creators and influencers in September.
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The project last made headlines in May, when it announced an official partnership with Grammy-nominated singer-songwriter Lil Yachty. The team expects to have hundreds of active communities led by celebrities, digital artists, influencers, and other creators by the end of 2021, with platform membership reaching into the millions.
Game-Changer for NFTs and Social Media
The NFT market has been plagued by high transaction fees on the Ethereum network, pricing most people out and preventing mass adoption. To solve this, Weentar took the bold step of developing its own blockchain, bucking industry trends and emerging as one of the most ambitious projects of 2021.
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Users who sign up as creators will be able to upload photos, audio, video, and text posts that can be offered as NFTs, with no minting fees. Creators will also automatically mint their own social tokens upon sign-up, which fans can then purchase. These digital assets can give holders access to special perks such as exclusive content, voting rights, discounts on merchandise, and other rewards as chosen by the creator.
Current centralized social media platforms offer little-to-no ways of directly monetizing content for most users, despite soaring ad revenues for the corporations operating them. Weentar offers a zero-ad platform, and aims to help usher in the next evolution of work, as creators and fans access earning opportunities through their typical social media activities. This is the next evolution of work being developed at Weentar.
Weentar is able to accomplish its goals and offers these features all while collecting minimal personal information.
According to DappRadar, NFT sales volume skyrocketed to well over $2 billion in the first half of 2021, and many consider this just the tip of the iceberg. Former Goldman Sachs hedge fund manager Raoul Pal believes social tokens are the next big thing, with the potential to grow into a trillion-dollar industry within 10 years. This puts Weentar at the forefront of some of the most exciting and promising technologies, ready to disrupt the establishment.
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