Feeed is sold as the first real currency that is actually backed and secure. Feeed allows you to pay with your phone or a credit card, and they brag that you can do so without any fees. They allow you to trade Feeed in their internal exchange platform, and it’s all used to crowdfund.
What Is Feeed?
Feeed is a real, backed currency model that is “made for real life”. Feeed has no fees, and it’s based on an open-source algorithm platform that is democratic. They market it as a fresh way to fund-raise. As an open source system, it’s actually based on multiple blockchain systems that are managed by a community of users. Feeed is a strategy used by startups that employ smart contracts to invest.
How Feeed Works
Feeed is based on a multi-step system. First, the startup will present their project to the team and give all the details. Then, users will upvote the projects they like. As a user, you can upvote anything you think is promising. New products will be added each day with all of their details. Next, the Feeed team will put the top-voted projects through a small “quality control” check where they will make sure its real, verify the team behind the startup, and make sure its all accurate information.
Following a startup passing that check, the startup will receive $20,000 in Feeed for a percentage of their startup. This percentage will be defined ahead of time according to the specific project. Feeed will then present the total value of the investment you made in the startup. Since it’s an open source platform, everyone can share ideas and start discussions. No one is sidelined as they take each suggestion to heart. Feeed is then backed each day as the reference value gets defined according to how the investment fund is progressing.
You can make purchases with Feeed as a currency since it is a real value and the value varies very little. Feeed lets you pay anywhere in Euros, US Dollars, and countless other currencies.
Feeed Success So Far
In their first year, Feeed backed 60 startups for their portfolio and opened their trading platform. Today, they have backed over 2000 startups and counting. Their payment system was also recently added which allows you to use Feeed to pay freely with your smartphone and credit card.
In the last quarter of 2018, they foresee adding a financial ecosystem based on Feeed. Recently, they added the Feeed app to the Google Play Store and App Store, and mid-2017 they released their ICO. As an open source platform, Feeed is ran by five primary members who oversee all of the projects and investments. Feeed itself has signed up thousands of members.