“We're working with advertising chains such as Google Ads they are currently driving enough traffic and enough advertisers to us to provide for the payouts in the future,” said Sharov. The company says it could sustain its model because it relies more on external revenue sources. Time would tell if they’d be willing to stick around for the crumbs.Ĭheelee makes money from ads, in-app purchases, brand partnerships and NFT sales. Most of its users are likely to fall into this category. In addition, they earn little compared to people who invest in the platform’s NFTs. For example, level one users-i.e., those who haven’t upgraded with NFT glasses, are limited to 30 minutes of watch time daily, according to Sharov. In addition, the promise of decentralization or distribution must also be sustainable.Īlthough Cheelee’s app already has over 100,000 downloads on the Google Play store, some elements of the platform’s tokenomics are questionable. Users must first be willing to use the platform. These projects quickly discover that slamming decentralization on products doesn’t yield results automatically. It’s, however, not the first time a crypto project has looked destined to disrupt a traditional player. The company would need to engage with power users and invest in marketing. The idea does sound like a potential TikTok killer on paper. Users can also purchase the platform’s non-fungible token (NFT) glasses to upgrade their accounts and qualify for higher earnings. The difference is that users would earn as they watch these videos. And this can be a significant reason for the users to a social network amongst all others.”Ĭheelee offers a platform where users can share short videos just like they would on TikTok. Rather Cheelee, as Sharov puts it, is out to prove that “there is another model of wealth distribution, and we, as a company, would like to share our profits with the users. In February, the startup partnered with the layer-1 blockchain, Aptos APT, to release a version of its app on the network.įor Cheelee, the proposition isn’t that TikTok operates unfairly or unjustly. Indian Web3 startup Chingari is another watch-to-earn play. Blockchain technology allows us to reward users for the time they spend watching their feeds. “Cheelee combines the functionality of a short vertical video app, just like TikTok, with a number of Web3 killer features. “We provide users an opportunity to monetize their time and earn money in these hard times,” said Sharov. ![]() TikTok challengers are, however, less popular. Indeed, Twitter challengers appear in the headlines frequently. Damus, a social media platform built on the Nostr protocol, has integrated a feature that lets people earn satoshis, the smallest unit of bitcoin. Dorsey had started exploring the possibility of decentralized social media before leaving his role as Twitter CEO. Jack Dorsey has backed the development of at least two decentralized Twitter alternatives-Bluesky and Nostr. The past year or two has seen the rise of the Twitter challengers.
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