Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Matera raises $3.6 million to boost creator economy by fusing DeFi with social media

Share This Post

Web3 startup Matera successfully raised $3.6 million to build a platform to solve the monetization challenge prevalent in the creator economy, according to a press release shared with CryptoSlate.

The funding round included several notable names like Sidedoor Ventures, HighCass Crypto, Medusa Ventures, The Sandbox, and Saxon Partners.

DeFi for creators

Matera’s mission involves integrating DeFi with established social media platforms to reshape the creator economy landscape. This approach combines the expansive reach of web2 platforms with the innovative potential of web3, aiming to transform creator networks into vibrant economies.

Essentially, Matera is not trying to replace existing platforms. Instead, it wants to leverage and bring DeFi to the existing platforms, tapping into their immediate market and high user base.

This strategy further distinguishes it from other web3 SocialFi initiatives, enabling creators to build their Matera Credit Score based on their engagements across established platforms. Users can exchange their credit scores for liquidity and rewards within Matera’s ecosystem.

Sam Huber, Matera’s CEO, pointed out the limited adoption of Web3 SocialFi, attributing it to the underestimation of Web2 platform network effects. He added:

“Even if they get better economics, the switching costs are too high for Creators to start building an audience from scratch on a new platform. Matera as a bridge, enabling users to benefit from the scale of web2 and the economics of web3, solving this dilemma.”

Matera predicts that its solution would catalyze significant growth in the creator economy, projecting it to surpass $1 trillion by 2030 and bringing 100 million creators and their followers on-chain.

Matera plans to develop a robust blockchain infrastructure encompassing a DeFi platform, protocol layer, and a layer-2 network.

Presently, Matera supports creators on the social media platform X (formerly Twitter), enabling them to fundraise and monetize their loyal fan base. However, Matera intends to extend its integration to other social media platforms soon.

The post Matera raises $3.6 million to boost creator economy by fusing DeFi with social media appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogecoin Price Continuation Shows Rebound, But Resistance Is Mounting At $0.205

The Dogecoin price appears to be on a continued rebound, with bulls regaining some control over the market after weeks of sideways trading and downward pressure However, the momentum is being tested

Dogecoin Price Analysis and Forecast: Here are Key Targets to Consider in May

The post Dogecoin Price Analysis and Forecast: Here are Key Targets to Consider in May appeared first on Coinpedia Fintech News Dogecoin price has recorded a high correlation with Bitcoin, which is

Oxbow Lifts Deposit Limits on Privacy Pools, Opens Doors to Institutional Users

Oxbow, a decentralized finance (DeFi) platform balancing privacy and compliance, has removed deposit limits on its Privacy Pools tool, enabling unrestricted Ethereum transactions while screening

Crypto Analyst Says Dogecoin Price Breakout Is Programmed, Here’s Why

Dogecoin has spent the past few weeks oscillating in a tight range, with prices hesitating around the $017 level and facing consistent pressure near the $0185 resistance zone Despite several attempts

Cathie Wood predicts AI and Bitcoin to drive new phase of US economic growth

Ark Invest CEO Cathie Wood said the US economy is transitioning out of a prolonged “rolling recession” and entering a new era of productivity-led growth, powered by advances in AI,

Sovereigns Are Buying Billions Of Bitcoin, Says Anthony Scaramucci

Bitcoin blasted back through the psychologically charged $100,000 threshold for only the second time in its 16-year history, reclaiming a level last seen in February As the world’s first stateless