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

Los Angeles, California, February 7th, 2024, Chainwire

Key Takeaways

• 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 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 (focus.xyz) is built by DeSo, the team that raised $200M 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 web2.

Built on the Decentralized Social (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:

“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.”– Nader Al-Naji, Founder of DeSo

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…