Block.one Invested $150 Million in the Social Network

Marko Vidrih
Mar 26 · 2 min read

Block.one, an EOS cryptocurrency developer, has invested $150 million in Voice, its social network that was launched last June.

According to The Block, the investment will allow Voice to become independent of Block.one platform. In January, the company hired Salah Zalatimo, a former Forbes digital transformation executive, as CEO of Voice, and the next month launched a public beta of the platform.

“Under Salah’s leadership, Voice is to operate as a separate business and will deploy the $150 million in capital to expand its operations and build out the company’s workforce,” the announcement stated.

Voice positions itself as a social platform that allows real users, not bots, to publish and share content. The platform requires verification of the identity of each user. All users receive a certain number of tokens and can vote for content on the platform. Users can also earn extra tokens by creating original content.

“By designing a platform where every user has gone through Know Your Customer (KYC) verification and real identities are attached to the original content being shared, we are empowering users to hold each other accountable,” Zalatimo said.

Block.one spent about $150 million on the development of Voice — this includes the purchase of voice.com domain for $30 million.

Author: Marko Vidrih

Featured image credit: Pixabay

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Marko Vidrih

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The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

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