Blockster, a new social network dedicated specifically to cryptocurrency professionals and investors, is live on testnet.
Features of the Blockster social network
There are currently more than 400,000 users who have applied for access to the testnet, and in the future, it will also allow crypto companies to advertise without the limitations of popular social networks.
The main functionalities of this new platform will be the Blockdesk, Blockchat and Blockwatch.
The Blockdesk is actually a kind of internal newspaper, written by over 50 blockchain journalists.
Blockchat is a live messaging and video streaming application.
Finally, Blockwatch is an aggregator of real-time data from the crypto market, powered by Chainlink’s decentralized price oracle.
The parent company, Blockster Holdings (BH), is based in Gibraltar, and raised $1.9 million in 2020 from a number of UK and UAE investors, with a total valuation of around $25 million.
It is now preparing a new Series A fundraising round, led by Pimlico Partners, a global investment bank based in Dubai.
Of its 100 million BXR tokens, the company expects to sell about 20% during the token sale at a price between $1 and $2. BXR is the platform’s utility token, with which all internal transactions such as those for buying advertising space or trades will be paid.
The new assessment of the company’s overall value will be calculated after the token sale is completed.
This is scheduled for September 2021, and the company expects to announce more details soon.
Crypto investors and social media
Currently, cryptocurrency investors and enthusiasts use mainly Twitter, for public interaction, and Telegram for private interactions. However, neither of these platforms can be considered a true crypto social network.
Moreover, advertising of crypto businesses on both Twitter, Facebook and YouTube is limited, if not downright restricted, whereas the market demand for this is very high. Therefore, Blockster has enormous market potential, at least in theory, depending on the size of the community it manages to gather and the rate of user interaction.