Yours.org raises $1.5M in funding round led by Bitmain, nChain
Yours.org is novel idea focusing on getting everyday people paid for doing what they love on social media. That is, earning Bitcoin (BCH) for creating good content, finding good content, and commenting on good content.
Sure enough, the web application has already generated a frenzy of activity, particularly with the BCH community, where micropayments, are not only possible and feasible, but also encouraged.
Ryan X. Charles, CEO and Cofounder of yours.org has on numerous occasions expressed just how much BCH has enabled his business to flourish. Certainly, the site is well known among BCH enthusiasts, for this reason.
Mr Charles along with Dr Clemens Ley (who had discovered Bitcoin was indeed Turing complete), had founded the social media site in 2016 and are planning to hire a team of “the world’s best” with an emphasis on engineering and growth.
The duo now find themselves in excellent position with solid capital to take matters to the next level. Mr Charles was pleased to announce that Yours.org have just closed a funding round raising 1.5M dollars. An effort that was led by Bitmain and nChain, two of the most notable companies within the industry.
In an interview with CoinGeek, Mr Charles made mention that “the $1.5 M will be used for hiring and general product development. There are no “new” projects other than developing our own existing product and achieving massive growth. We believe we are very close to a high level of growth bringing BCH to a mainstream audience this year. We need to work with users and iterate the product as rapidly as possible to do that.”
We’ve already seen many quality submissions at Yours.org – The majority of which are crypto-related. Although other content is there as well… In talking to Mr Charles on future plans to branch out further into other topics and diversify, we asked how they plan to reach the mainstream.
“We are focusing on cryptocurrency first because it is the most natural first use-case for our platform. However, we intend to be fully mainstream this year. Cryptocurrency is a way to get core users who really care about the product in spite of usability problems at this time. They help us identify the most important problems to fix and features to add so that we can reach a mainstream audience. Throughout the year, we plan to get a broad array of content that has nothing to do with cryptocurrency” states Mr Charles.
“We believe the best way to reach a mainstream audience is to get people paid for their work, in Bitcoin Cash… the plan for this is predominantly hands-on whereby we work with our users in different categories to figure out their biggest issues and solve them one at a time. When we believe the product is ready, we can add an affiliate/referral system which will spark massive growth.”
Given the already thriving success of Yours.org, the funding round can only do a power of good for an already established application as this. Branching out to the mainstream (beyond crypto) is pivotal, Ryan & co believe they have the right roadmap, and soon the right “expanded” team to do just that.
For BCH supporters, the return on investment is two-fold. Not only does this help the eco-system and present an excellent use case for BCH, but it drives further adoption and visibility.