Taki, a blockchain-based social media platform that rewards customers for his or her engagement with high quality content material, has introduced a milestone of reaching roughly 600K customers on the product waitlist.
With the IEO launch of the $TAKI token, TAKI DAO raised $360K USD from people all over the world. This, together with the truth that buying and selling began at 10x the IEO-price of $0.04, is a powerful indicator of neighborhood pleasure. Trading quantity peaked at $58M earlier than settling down with three exchanges including the token by the IEO day’s finish.
Earlier this month, Taki raised $3.45MM USD by 11 marquee world web3 buyers, together with Solana Ventures, CoinDCX, OKX Blockdream Ventures, Alameda Research, Formless Capital, Gemini Frontier Fund, and Coinbase Ventures.
While expressing pleasure over the achieved milestones, Taki’s co-founder Sakina Arsiwala stated, “Taki wants to empower creators and give them a platform to bring forward their content and earn an income. With this IEO launch, users can better understand our vision and gain more confidence in Taki’s future growth.”
The success of Taki’s IEO is a testomony to the rising curiosity in cryptocurrency and blockchain in India.
What is Taki?
Taki’s fast development and adoption might be attributed to its distinctive worth proposition, which is to determine a first-of-its-kind engage-to-earn crypto financial system.
Users can interact with their favourite content material creators, create their very own content material, and earn TAKI tokens alongside the best way.
Taki was based to be simply accessible and function a gateway into Web3 whereas addressing the fast-growing demand for different social media engagement channels, particularly given the rise of censorship throughout centralized social media platforms.
With Taki, customers not solely have the liberty to interact with the content material they love, however in addition they get cryptocurrency rewards for producing their very own content material.
Powered by the RLY protocol and constructed on Solana’s blockchain, Taki can get accessed by a cell app that’s able to a number of the quickest transaction throughputs in Web3.
Taking into consideration the curiosity proven by the over 600,000 customers on its waitlist, Taki is already proving to be extra than simply an alternate, however a next-generation social media platform for all.
According to the platform’s co-founder Arsiwala, “The platform is designed in a way that anyone can use it, even those who are not well versed with crypto. This is where the $TAKI token will play its charm.”
Arsiwala added that, “With $TAKI token, creators, users, and crypto-enthusiasts will be able to monetize their engagement and content on the platform.”
Moving in direction of web3 Social Media
Over the years, there was a rising shift in direction of decentralization as customers turn into extra conscious of the advantages of web3 purposes. At its core, web3 merchandise comparable to Taki allow customers to each have extra management over the content material they produce and in addition get rewarded for engagement.
This is in stark distinction to the present web2 social media panorama, which is dominated by a handful of centralized platforms which have been identified to censor content material and throttle person development.
The Taki staff believes that now could be the time for a shift in how social media platforms function.
Taki is ruled by a DAO (Decentralized Autonomous Organization), which ensures that selections are made swiftly and in a decentralized method. This decreases the possibilities of centralized censorship going down.
According to the staff, creators will see their content material distributed throughout a number of platforms immediately, with rewards going immediately into their wallets inside minutes.
As famous by Arsiwala, “Taki wants to empower creators and give them a platform to bring forward their content and earn an income.”
Conclusion
Despite regulatory uncertainty regarding crypto by the Indian authorities, the Indian inhabitants stays one of the crypto-savvy demographics in crypto and blockchain worldwide.
After the ICO increase of 2017, India’s authorities has avoided terming crypto as authorized. Even so, the nation has moved ahead to introduce a 30% tax on cryptocurrency transactions, which may very well be an indication of excellent issues to come back for the general crypto neighborhood in India.
Given the rising demand for web3 purposes within the nation, Taki is progressing on its mission to be a gateway for crypto-enthusiasts in India and all over the world.
