/Reach, a web3-focused social platform designed to “fix Crypto Twitter” and powered by the Reach token, went live on Dec. 18 after the completion of a beta phase that onboarded around 6,000 users, according to a statement shared with CryptoSlate.

/Reach platform

In recent years, the crypto community has expressed growing concerns regarding the abundance of bot accounts on the microblogging platform X (formerly Twitter). These bots have adversely affected projects and have been linked to financial losses due to their orchestrating phishing campaigns. Community members have also highlighted other key challenges on X, including fake followers and subpar engagement levels within the social media platform.

/Reach is attempting to tackle these challenges by introducing a protocol enabling a unique integration between Discord and X. This integration empowers Reach users to promote their content to a vetted user base while receiving due compensation.

Co-founders L’anamour and 8an emphasized the necessity for /Reach, explaining that X/Twitter is the global hub for the crypto community. However, its platform, algorithm, and the proliferation of millions of fake profiles remain a persistent source of frustration for individuals and businesses.

According to the founders, their new platform is “a fit-for-purpose protocol” built to solve the engagement issues and bot problems associated with the platform.

Interestingly, the platform attracted funding from influential crypto personalities such as Seedphrase, Zeneca, Pranksy, Gmoney, Dingaling, and Mooncat2878. These investors had previously been involved with platforms like Blur, LooksRare, SuperRare, and NFTNow.

Seedphrase, an investor and advisor to /Reach, lauded the new platform’s ability to foster a collaborative environment beneficial to creators and contributors.

Reach token

The Reach token, boasting a total supply of 100 million, currently exchanges hands for $$0.113241, with a trading volume of around $3 million, per Coingecko data. Since its launch, the token has peaked at $0.136887 before retracing to its current value.

/Reach outlined multiple uses for the token. It can be used to create missions to boost project engagement, participate in the platform’s revenue-sharing program, and serve various purposes on Discord for token holders.

The post Web3 social platform /Reach aims to ‘fix Crypto Twitter’ appeared first on CryptoSlate.

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Filed under: Bitcoin - @ December 19, 2023 7:10 pm