August 9, 2022

Taki, a blockchain-based social media platform that rewards customers for his or her engagement with high quality content material, has introduced a milestone of reaching roughly 600K customers on the product waitlist.

With the IEO launch of the $TAKI token, TAKI DAO raised $360K USD from people all over the world. This, together with the truth that buying and selling began at 10x the IEO-price of $0.04, is a robust indicator of neighborhood pleasure. Buying and selling quantity peaked at $58M earlier than settling down with three exchanges including the token by the IEO day’s finish.

Earlier this month, Taki raised $3.45MM USD by way of 11 marquee world web3 buyers, together with Solana Ventures, CoinDCX, OKX Blockdream Ventures, Alameda Analysis, Formless Capital, Gemini Frontier Fund, and Coinbase Ventures.

Whereas expressing pleasure over the achieved milestones, Taki’s co-founder Sakina Arsiwala stated, “Taki needs to empower creators and provides them a platform to convey ahead their content material and earn an revenue. With this IEO launch, customers can higher  perceive our imaginative and prescient and achieve extra confidence in Taki’s future development.”

The success of Taki’s IEO is a testomony to the rising curiosity in cryptocurrency and blockchain in India.

What’s Taki?

Taki’s speedy development and adoption will be attributed to its distinctive worth proposition, which is to ascertain a first-of-its-kind engage-to-earn crypto economic system.

Customers can interact with their favourite content material creators, create their very own content material, and earn TAKI tokens alongside the best way.

Taki was based to be simply accessible and function a gateway into Web3 whereas addressing the fast-growing demand for various social media engagement channels, particularly given the rise of censorship throughout centralized social media platforms.

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With Taki, customers not solely have the liberty to interact with the content material they love, however additionally they get cryptocurrency rewards for producing their very own content material.

Powered by the RLY protocol and constructed on Solana’s blockchain, Taki can get accessed by way of a cell app that’s able to a few of the quickest transaction throughputs in Web3.

Bearing in mind the curiosity proven by the over 600,000 customers on its waitlist, Taki is already proving to be extra than simply another, however a next-generation social media platform for all.

In accordance with the platform’s co-founder Arsiwala, “The platform is designed in a method that anybody can use it, even those that will not be effectively versed with crypto. That is the place the $TAKI token will play its allure.”

Arsiwala added that, “With $TAKI token, creators, customers, and crypto-enthusiasts will be capable to monetize their engagement and content material on the platform.”

Shifting in direction of web3 Social Media

Over time, there was a rising shift in direction of decentralization as customers develop into extra conscious of the advantages of web3 functions. At its core, web3 merchandise akin to Taki allow customers to each have extra management over the content material they produce and likewise get rewarded for engagement.

That is in stark distinction to the present web2 social media panorama, which is dominated by a handful of centralized platforms which have been identified to censor content material and throttle person development.

The Taki crew believes that now’s the time for a shift in how social media platforms function.

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Taki is ruled by a DAO (Decentralized Autonomous Group), which ensures that selections are made swiftly and in a decentralized method. This decreases the probabilities of centralized censorship going down.

In accordance with the crew, creators will see their content material distributed throughout a number of platforms immediately, with rewards going straight into their wallets inside minutes.

As famous by Arsiwala, “Taki needs to empower creators and provides them a platform to convey ahead their content material and earn an revenue.”

Conclusion

Regardless of regulatory uncertainty regarding crypto by the Indian authorities, the Indian inhabitants stays one of the crucial crypto-savvy demographics in crypto and blockchain worldwide.

After the ICO growth of 2017, India’s authorities has kept away from terming crypto as authorized. Even so, the nation has moved ahead to introduce a 30% tax on cryptocurrency transactions, which might be an indication of fine issues to return for the general crypto neighborhood in India.

Given the rising demand for web3 functions within the nation, Taki is progressing on its mission to be a gateway for crypto-enthusiasts in India and all over the world.