The problems plaguing centralized social network platforms, including ongoing battles with censorship and user data security concerns, has opened a market opportunity for blockchain-based solutions.
Currently, much of the attention has been on Steem, a blockchain-based rewards platform for publishers to monetize content, given that its network recently surpassed one million accounts. However, Steem has faced sizeable criticisms in its development, again opening the door for competitors.
Launched in the summer of 2017, Investfeed is a blockchain-based social network that has quietly grown to more than 100,000 users, including notable industry players like Binance’s CEO, CZ. Similar to Steem, Investfeed allows users to interact with one another in a Twitter-like format but also includes a number of unique features, such as blockchain project profiles and investing-focused functionality.
Recently, Investfeed announced that it would be releasing a multi-phased beta of a more expansive platform. According to Investfeed, the first launch release will contain the trade execution and management while the second launch release will integrate the marketplace for premium subscriptions and content.
In addition to the new features, Investfeed revealed a shuffling within its executive leadership, appointing former CTO Drew Freedman to the role of CEO, while promoting lead developer Clayton Lambert fill the CTO vacancy. Investfeed now has offices in both New York City and London, with 12 employees
We sat down with new CEO Drew Freedman to learn more about the past, present and future of Investfeed
SludgeFeed: What is the main goal of Investfeed?
Drew Freedman: Our main goal at Investfeed is to create a single social media and trading gateway to the blockchain industry that is open, transparent, and rewards-based for all our users, contributors, and Crypto based projects – wherever they may be in the world. This was described in more detail inside our June 2017 whitepaper and roadmap which accompanied our Token Generation Event which completed in July 2017.
Can you describe what has happened with Investfeed in the time since June 2017?
Since then we have been busy building a cross-platform dedicated social network and have welcomed more than 100,000 new users, delivered the first phase of our Beta in January and announced technology partnerships with Enigma, Civic and Dock.IO in order to lay the foundations for lots of additional functionality in 2019 and beyond. The most notable milestone was the initial incorporation of our native utility token (IFT) into the ecosystem, by popular demand. We will be rolling out the entire set of our utility token use cases and marketplace shortly.
To say that the Blockchain and Social Media world has changed since June 2017 is an understatement, what are your thoughts on this?
Since June 2017 we have seen many trends in the industry develop in favor of our roadmap and partnerships. For example, the rise of subscription (or paid groups) for content via the likes of Patreon, the increasing number of top-tier exchanges that traders use and the way that they trade is also changing with the rise of algorithmic trading via API calls complementing manual trading.
We look forward to establishing new partnerships in the realm of AI and algorithmic trading. As a community of likeminded novices and professionals alike, our motto is “strength in numbers.” Anonymized user data will be aggregated to provide a suite of advanced trading tools that can be leveraged by the participants of our ecosystem, giving them greater insight into the market.
What are the plans for Investfeed from now until the end of 2018?
We started 2018 very much on the front foot and although the Industry has been in consolidation for much of this year we have continued to develop and prepare our version 1.0 Alpha software behind the scenes in stealth mode. We are very close to the rollout of the next major release, rich with new features that have been in the pipeline for some time now.
The company has gone through a progressive executive restructuring, the most significant change, of course, my appointed as the new CEO, by which I am honored to take on the role and lead the project to new heights. We’ve also been acquiring new talent to expand our management and engineering team. In addition, we have commenced our global expansion, beginning with a new London office which will act as our HQ in Europe.
What do you see are your main challenges?
Whilst that has all been happening one of the main challenges we have encountered is ensuring that the wider community does not just see us as a just a crypto-Twitter challenger, we are much more than that and for the remainder of 2018, one of our main goals will be to change this perception and to get all of our FEED utility token use cases operational and in the hands of our users. This, in turn, will allow us to announce our 2019 roadmap and even more use cases for the FEED token.
For many projects the biggest challenge is delivering the first version of the product to end-users, how do you intend to address this?
The way we intend to rise to this challenge is by giving early preview access to the new trading and paid subscriber functionality via selected community members and news outlets for a short period prior to the Beta 1.0 going live. For the die-hard traders, as well as the subscription content marketplace, the 1.0 beta will include a fully integrated trading console with streaming trade order book integrated into a dozen exchanges. Our intention is to make the API based trading console one of the best in the industry.
If you were to sum up your thoughts going into 2019, what would they be?
We believe there is a greater need now than there was when we wrote our 2017 whitepaper to deliver what we envisioned and continue the communities transition away from the non-blockchain focused companies such as Patreon, Twitter, Reddit, Discord, Telegram (and the dreaded troll-boxes that appear on exchange websites!) into a single pane of glass dedicated to blockchain.
For newcomers, navigating all these sources of information and knowing what to trust is a daunting minefield which is putting many people off and stunting the growth of the industry. We look forward to welcoming a new wave of users and helping to grow the industry whilst giving seasoned users a better environment to share ideas and interact in. The best part is that with our FEED token, everyone who contributes valuable content can be rewarded as we grow.
Follow: SludgeFeed on Investfeed.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.