Block.One Injects $150M Into Voice Social Media Platform to Help Fund Operations
EOS blockchain protocol publisher that ran a $4 Billion ICO, Block.one, is injecting $150 million to enhance independent operations of its Voice social media platform that was introduced in June 2019.
According to a press statement released on Thursday, the money will be used to kick off Voice’s independent operations away from its parent company, Block.one. Voice has already started the process of independent operations as it hired Salah Zelatimo as the CEO in January who previously worked as the global digital head in Forbes. Following Zelatimo’s hiring, a public beta was launched last month.
Today, we announce $150 million to expand our operations and build out our workforce https://t.co/GnGoT30nH4
— Voice (@voicesocial_) March 26, 2020
According to the press release, Selah will lead the initiative to establish Voice as a separate enterprise and the $150 million will be used in the expansion of operations and building up of the firm’s workforce. Block.One had already spent roughly $150M last year getting the platform ready to go live. This doesn't include the $30M they spent buying Voice.com.
Voice debuted in summer last year and at that time, it was hyped as the social media platform which gets rid of bots. During the launching time, it was touted as the social media network where real people rather than bots will post as well as share content in order to be rewarded with tokens.
The app aims at enhancing authenticity in the social media space which has been elusive in the recent past. Users will have to produce their identity details for verification. After verification, users will then be awarded Voice tokens every day which they then use to push certain posts. Users can also win extra tokens when they create original content on the platform.
Zalatimo stated that Voice is set to be a true content marketplace and the user will be in total control of the content which will be promoted. Members will also not be afraid of being wrong as the community can hold each other accountable. Zalatimo said:
“By designing a platform where every user has gone through Know Your Customer (KYC) verification and real identities are attached to the original content being shared, we are empowering users to hold each other accountable.”
Through the use of tokens, Voice aims at enhancing transparency in the content promotion process.