January 14, 2025
The app permits customers to realize a revenue not solely via content material however via interactions.
As a TikTok ban looms, Isaac Hayes III’s social media app, Fanbase, has gained traction with over $5.2 million secured via crowdfunding.
Hayes, the son of legendary R&B singer Isaac Hayes, based the social media platform in 2018. In accordance with its web site, creators can straight earn income via their content material. Moreover, customers can achieve cash via their interactions on the app. The platform, whereas free, additionally has subscription tiers to go additional with monetization.
“For individuals who worth content material and group, Fanbase is a free-to-download, free-to-use, next-generation social community that enables any consumer to earn cash from day one,” the corporate web site explains.
Though obtainable for years, the app is gaining new recognition as TikTok’s time runs out in the USA. The Atlanta-based platform has risen on the App Retailer charts as nicely. Fanbase lately gained the #6 spot on social media rankings and #16 on the general app retailer downloads. Whereas doing so, it additionally crossed the 5 million milestone in crowdfunding.
Hayes wrote concerning the achievement in a submit on LinkedIn.
Hayes not solely desires the general public to hitch the app, however participate in its progress as traders. In accordance with Afrotech, customers can turn out to be traders for a minimal quantity of $399 for the Black-owned startup.
He hopes to turn out to be the subsequent dominant social media app in the marketplace, one which lets each consumer have the chance to make a revenue.
“I’m the one Black-founded start-up social media app that’s at the moment in existence that was based for the complete planet, but it surely’s Black-owned in infrastructure and possession,” Hayes advised the publication’s “Black Tech Inexperienced Cash” podcast.
“As an alternative of being clients to our creations, we’re turning our improvements into acquisitions, and due to this fact, that’s my pitch to inform folks that, ‘Look. Fb and Instagram should not going to be, and TikTok shouldn’t be going to be the king of the hill. There’s no enterprise that has existed that has lasted and dominated in perpetuity. Every little thing goes down.’”
RELATED CONTENT: Gen Z’s Psychological Well being Struggles Create Catch-22 In Employment, UK Research Reveals