Privi Raises $3.5 Million for Social Platform Designed to Reward Content Creators

CommPRO Editorial StaffPrivi, a DeFi-based social economy of NFTs, social tokens and DAOs, has announced the successful raise of $3.5 million in private funding led by Bitcoin.com Exchange, AU21, Master Ventures, and Waterdrip Capital. Privi is an end-to-end crypto ecosystem built for the creator economy, allowing creators and communities to tokenize virtually any asset within its platform, including videos, music, blogs, photography and more. Uniting decentralized finance and social tools, Privi will return the monetization of content to those who deserve it, the content creators and communities.For too long, users have become accustomed to social networks taking profits from their user engagement. This structure benefits the platform without giving back to its user base and the content creators. Facebook and Twitter for example, make $92 billion and $3.4 billion per year respectively by selling ads to appear among free editorial content created by over 3 billion users combined. Privi’s total solution allows users to create, host, and join unique social spaces within its decentralized platform where users are rewarded for every single contribution they make while connecting with their community like never before.“Social, new finance, and crypto over the last decade have been defined by imperfect tools that can do as much harm as good. Mainstream social networking is broken, new financial tools like Robinhood have often created harmful confusion for new retail investors, and crypto has often been incredibly unapproachable and intimidating for the everyday user,” said Zach Badger, Privi co-CEO and co-founder. “Privi combines what actually works with social and crypto in a way that is truly approachable for everyone--all while giving the power back to the users who create real value for all these networks, the creators."The ultimate goal of Privi is to give complete ownership of content to the people who created it, where users can monetize all of their contributions and maintain full control of their creations. Privi offers several distinct advantages over existing and legacy networks, with a platform that is both decentralized and scalable, including a hybrid-agnostic blockchain, decentralized social capabilities, decentralized finance capabilities, asset streaming, and decentralized advertising.Source: Blockchain Wire