Taki Enters The Indian Market with First of its Kind Engage-to-Earn Crypto Economy
17 Mai 2022 - 03:37PM
NEWSBTC
Taki, a blockchain-based social media platform that rewards users
for their engagement with quality content, has announced a
milestone of reaching approximately 600K users on the product
waitlist. With the IEO launch of the $TAKI token, TAKI DAO raised
$360K USD from individuals around the world. This, along with the
fact that trading started at 10x the IEO-price of $0.04, is a
strong indicator of community excitement. Trading volume peaked at
$58M before settling down with three exchanges adding the token by
the IEO day’s end. Earlier this month, Taki raised $3.45MM USD
through 11 marquee global web3 investors, including Solana
Ventures, CoinDCX, OKX Blockdream Ventures, Alameda Research,
Formless Capital, Gemini Frontier Fund, and Coinbase Ventures.
While expressing excitement over the achieved milestones, Taki’s
co-founder Sakina Arsiwala said, “Taki wants to empower creators
and give them a platform to bring forward their content and earn an
income. With this IEO launch, users can better understand our
vision and gain more confidence in Taki’s future growth.” The
success of Taki’s IEO is a testament to the growing interest in
cryptocurrency and blockchain in India. What is Taki? Taki’s rapid
growth and adoption can be attributed to its unique value
proposition, which is to establish a first-of-its-kind
engage-to-earn crypto economy. Users can engage with their favorite
content creators, create their own content, and earn TAKI tokens
along the way. Taki was founded to be easily accessible and serve
as a gateway into Web3 while addressing the fast-growing demand for
alternative social media engagement channels, especially given the
rise of censorship across centralized social media platforms. With
Taki, users not only have the freedom to engage with the content
they love, but they also get cryptocurrency rewards for producing
their own content. Powered by the RLY protocol and built on
Solana’s blockchain, Taki can get accessed through a mobile app
that is capable of some of the fastest transaction throughputs in
Web3. Taking into account the interest shown by the over 600,000
users on its waitlist, Taki is already proving to be more than just
an alternative, but a next-generation social media platform for
all. According to the platform’s co-founder Arsiwala, “The platform
is designed in a way that anyone can use it, even those who are not
well versed with crypto. This is where the $TAKI token will play
its charm.” Arsiwala added that, “With $TAKI token, creators,
users, and crypto-enthusiasts will be able to monetize their
engagement and content on the platform.” Moving towards web3 Social
Media Over the years, there has been a growing shift towards
decentralization as users become more aware of the benefits of web3
applications. At its core, web3 products such as Taki enable users
to both have more control over the content they produce and also
get rewarded for engagement. This is in stark contrast to the
current web2 social media landscape, which is dominated by a
handful of centralized platforms that have been known to censor
content and throttle user growth. The Taki team believes that now
is the time for a shift in how social media platforms operate. Taki
is governed by a DAO (Decentralized Autonomous Organization), which
ensures that decisions are made swiftly and in a decentralized
manner. This decreases the chances of centralized censorship taking
place. According to the team, creators will see their content
distributed across multiple platforms instantly, with rewards going
directly into their wallets within minutes. As noted by Arsiwala,
“Taki wants to empower creators and give them a platform to bring
forward their content and earn an income.” Conclusion Despite
regulatory uncertainty concerning crypto by the Indian government,
the Indian population remains one of the most crypto-savvy
demographics in crypto and blockchain worldwide. After the ICO boom
of 2017, India’s government has refrained from terming crypto as
legal. Even so, the country has moved forward to introduce a 30%
tax on cryptocurrency transactions, which could be a sign of good
things to come for the overall crypto community in India. Given the
growing demand for web3 applications in the country, Taki is
progressing on its mission to be a gateway for crypto-enthusiasts
in India and around the world.
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