Locals, a new social media platform, has gained increasing support from the Bitcoin community. The platform has received significant backing from leading investors in crypto because of its capability to avoid censorship.
Prominent crypto investors, including Anthony Pompliano, have supported a new social media content platform called Locals. The platform gives the crypto community freedom from demonetization and shadowbans. The platform will create an escape for investors who want to avoid the censorship present in large tech companies.
Crypto Investors are backing Locals
Locals Technology Inc. recently announced that they had received a funding of $3.8 million on April 20 during a funding round. The round was sponsored by Anthony Pompliano of Morgan Creek Digital Assets, Balaji Srinivasan, the former CTO of Coinbase, and Alexander Lloyd, the co-author of ‘Little Bitcoin Book.’
One of the people who spoke on why the crypto space was embracing Locals is Scott Adams, who affirmed that Locals had given him control over his content. He no longer censored the content he could post or not because, at this platform, he did not have to worry about demonetization and shadowbans.
Locals gives crypto content developers a secure and safe platform where they have the independence to post their content without having to edit it to meet the standards set by platforms such as Patreon, Twitter, and YouTube.
How locals works
Locals platform is not created on the blockchain. However, it has still attracted the attention of crypto members who have suffered from demonetization, shadowbans, and content deletion, especially of their work has gone against the standards set regarding crypto content.
The co-founder of this platform, Assaf Lev, stated that the main objective behind creating the company was to give investors control over their content. Through Locals, creators can increase their earning and be proud owners of their content and their audiences. Creators can earn from subscription fees where Locals will take 10% of the earnings.
Locals gives their users control over setting the rules and standards that will be allowed within their communities. By doing this, they can post content that is relatable to their community subscribers. Dave Rubin, also a co-founder of Locals, stated that his motivation towards creating the platform was to level the playing field and give crypto content creators all the tools they need.
The crypto community has been actively looking for avenues to create content without fear of repercussion, and Locals has provided a timely solution. Other developers are also looking towards creating similar platforms.