Crypto Updates

Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week

Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week

February 7, 2024 – Los Angeles, California

Focus, the revolutionary new decentralized SocialFi app, raised $75 million in one week. Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar industry. Users can reserve with DESO, BTC, ETH and more to earn a 90% bonus in FOCUS tokens for a limited time.

Focus, a new decentralized SocialFi app built on the DeSo (Decentralized Social) blockchain, has made waves in the crypto industry by amassing over $75 million in token reservations within its first week of launch.

This unprecedented achievement not only demonstrates the platform’s potential but also reflects the growing interest in decentralized social media.

Focus is built by DeSo, the team that raised $200 million from Coinbase, Sequoia, a16z, Polychain and other top funds.

It aims to disrupt the trillion-dollar social media market and creator economy by introducing groundbreaking features rivaling X, OnlyFans and Patreon.

The total addressable market for this sector is substantial, with OnlyFans projected to process approximately $8 billion in 2023 while charging a 20% transaction fee.

These high fees significantly cut into creator profits, emphasizing the need for a fairer solution.

Focus combines the best of OnlyFans, Patreon, X and other billion-dollar social platforms into one app and features permissionless and anonymous crypto-native monetization features that are not possible in Web 2.0.

Built on the DeSo blockchain, Focus distinguishes itself with a unique approach to content ownership, creator monetization and user engagement.

In response to this overwhelming achievement, Nader Al-Naji, the founder of DeSo and visionary behind Focus, shared his insights, and said,

“The response we’ve received is nothing short of spectacular. It’s a testament to the community’s belief in a decentralized future for social media.

“Our platform is not just about reshaping social media it’s about empowering users and creators in a way that’s never been done before.

“This milestone is just the beginning of our journey towards a more decentralized social landscape.”

Focus’s mission extends beyond the realm of conventional social media.

Focus aims to revolutionize the way we interact online by offering unprecedented monetization opportunities for creators, coupled with advanced AI tools, while also tackling the challenges of censorship and content authenticity.

Thanks to the DeSo blockchain and its

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