Thursday, May 23, 2024

Quick Take

In a bid to revamp Crypto Twitter, prominent cryptocurrency and NFT investors are rallying behind social-fi startup ‘/Reach.’ With a unique integration between Discord and Twitter/X, the company seeks to combat issues like bots and low-quality engagement. The full launch is set for December 18th, promising a brighter future for the crypto community’s online hub.

Innovative Integration Promises to Combat Bots and Boost Authentic Engagement

In a bold move aimed at addressing the rampant issues plaguing Crypto Twitter, a consortium of influential cryptocurrency and NFT investors has thrown its financial weight behind ‘/Reach,’ a fledgling social-fi innovation company with a mission to “fix Crypto Twitter.” The formidable lineup of backers includes notable figures like Seedphrase, Zeneca, Pranksy, Gmoney, Dingaling, and Mooncat2878, all of whom have previously invested in high-profile ventures like Blur, LooksRare, SuperRare, and NFTNow.

The co-founders of ‘/Reach,’ L’anamour and 8an, have voiced their collective frustration with Twitter’s current state, citing problems such as fake profiles and algorithmic inconsistencies as sources of discontent within the crypto community. “/Reach is here to change this,” they proclaimed, backed by a protocol designed to tackle the issues head-on. After a successful beta phase that onboarded over 6,000 users, the company is gearing up for a full launch at 14:00 EST on Monday, December 18th, powered by the $REACH token.

The central innovation driving ‘/Reach’ is a unique integration between Discord, a hub for closed crypto communities, and Twitter/X. This integration aims to empower users and businesses alike to bypass Twitter’s algorithmic quagmire and efficiently promote their content to precisely targeted audiences. Moreover, users will be rewarded for their contributions to the network effects, creating a more dynamic and authentic ecosystem.

The project’s potential hasn’t gone unnoticed beyond the crypto sphere. Major gaming and media players outside the web3 domain have expressed interest in leveraging this protocol to enhance their visibility. This endorsement underscores the transformative potential of ‘/Reach’ and its ability to impact the broader digital landscape.

Despite being the de facto “home” of the crypto industry online, Twitter/X has been under fire for some time, both from within and outside the blockchain realm. Its persistent issues with bots, fake followers, and low-quality engagement have raised serious concerns. A recent study revealed that many prominent crypto profiles boast hundreds of thousands of fake ‘bot’ followers, artificially inflating their communities. These same fake profiles are commonly employed to artificially promote projects, further muddying the waters of genuine interaction.

Even the formidable Elon Musk’s efforts, following his acquisition of the platform, have yielded limited results. Twitter/X is forecasted to lose a substantial 30 million users over the next two years, equivalent to nearly 10% of its active user base.

One of the luminaries of Crypto Twitter, Seedphrase, renowned for owning the rarest Cryptopunks and recognized as a lead advisor for ‘/Reach,’ emphasized the critical need for change. He noted that Twitter/X’s average organic engagement rate languishes at a mere 0.05%, signaling a strong demand for tools that can boost user engagement while offering stability against algorithmic unpredictability and competition.

Seedphrase added, “Get Reach’s platform fosters a collaborative environment where creators and contributors unite to enhance the visibility of Web3 projects while reaping rewards for their participation. The onus is on us to welcome corporates into web3, and I see Get Reach as the perfect gateway for this with a true decentralized ethos.”

With the countdown to ‘/Reach’s’ full launch underway, scheduled for Monday, December 18th at 14:00 EST, the crypto community, and indeed the wider digital world, will be watching with bated breath. Details of the launch will be unveiled on the project’s Twitter/X page on Monday, promising a pivotal moment in the quest to revamp and rejuvenate Crypto Twitter.

In a landscape where authenticity and innovation are at a premium, ‘/Reach’ and its distinguished backers aim to lead the charge toward a brighter, more engaging, and bot-free future for the crypto ecosystem.

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