Mike Gamaroff of Wheedl was among those to pitch at the first Bitcoin Association Pitch Day.
Held at the CoinGeek Conference in Seoul back in October, the event brings together developers and entrepreneurs with blockchain investors to secure funding opportunities for the next wave of BSV innovation.
Wheedl is a fully functional feature-rich social network, all about the meme. Resembling Instagram in its feed style, Wheedl has several crucial differences—not least the fact it is powered by Bitcoin BSV.
Users of the platform still benefit from many of the standard social network features, such as the ability to like, share, and create content on the platform. However, unlike regular social networks, where content is monetized by the BSV network itself, content on Wheedl is monetized by the creator.
Platform users make a small payment to like content, rewarding the creator of the content directly for the output. Similarly, content creators receive payments from those liking their content, delivered by BSV microtransactions. This means the most successful, highest quality creators will be paid the most, directly from other users on the platform.
Content created on the platform is not stored on a database but is instead written to and read from the blockchain.
According to Gamaroff, Wheedl removes the middle man—the social network, which currently takes ownership of content without paying creators directly and monetizes that content through its platform.
By transferring the economy of the platform to the blockchain, creators and users can transact directly, creating a meritocratic system for creating and propagating meme content on the network.
Wheedl is already live, with users already creating, sharing, and earning on the platform.
The concept was well received in the room, with the gathered investors particularly keen to work with developers in the BSV space.
Applications for the next Bitcoin Association Pitch Day are currently open. Set to be held at the CoinGeek Conference in London in February 2020, the event is open to projects at all stages of the development cycle.
Do you have a Bitcoin idea? Is it ready for the next step? We’re looking to invest in Bitcoin companies to bring them to the next level. Check out this series, Bitcoin Ventures, to learn more about the importance of demo days, how to properly value your startup, as well as get some tips on how to pitch your project, secure financing, and finding the right investor for your startup.
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