Howdoo, the emerging blockchain-powered social media platform, has been incorporated into cryptocurrency exchange Cointiger’s Unicorn Booster Scheme. The announcement coincides with Howdoo’s listing on Huawei’s AppGallery and ongoing work with IBM’s Watson Insights, which have pushed Howdoo into the spotlight recently.
Cointiger’s Unicorn Booster Scheme is a joint initiative with Ticker Capital that operates as an accelerator program for crypto-oriented startups. Part of a growing trend among exchanges, like Binance Labs, Cointiger’s incubator targets high-quality projects with long-term growth potential.
“This major endorsement of the uDoo demonstrates its potential to investors around the world, and of the confidence held in the uDoo as a cryptocurrency with a genuine utility on the Howdoo platform,” detailed the Howdoo blog announcement.
The Cointiger Unicorn Booster Scheme is comprised of a $15 million fund, representing a significant investment in uDoo and the broader Howdoo ecosystem.
Howdoo Gaining Momentum
Howdoo has undergone a flurry of high-profile developments recently following significant interest in the long-term potential of a diverse content and social media platform built on Ethereum.
Howdoo is uniquely positioned to have a significant impact on the social media market, which drawing from multiple data and privacy issues, is due for disruption. And the social media market is enormous. Gen Z, which is now the largest population on earth, consumes more than 5 billion hours of social media per day, according to Howdoo.
However, many content creators of Gen Z and the Millennial generation struggle to retain even mediocre portions of their value production. Hindered by the advertising paradigm of today’s social media giants, website content is increasingly filled with clickbait and minimal avenues for bypassing costly transaction costs.
Howdoo circumvents the limitations of the contemporary social media model by building its platform on Ethereum, which confers data ownership, censorship-resistance, and the removal of costly intermediaries to its users. Additionally, the platform incorporates a suite of content and media types — from blog posts to short-form video.
And Generation Z is the project’s primary target.
The Howdoo Orange Paper details how Generation Z’s participation in Facebook and Twitter is dropping rapidly, creating an unprecedented opportunity for the platform to steal a large portion of market share from established social media companies. Focusing on privacy and monetization of content, specifically geared towards younger generations, Howdoo is projecting 40 million users by the end of 2020.
Now with the backing of Cointiger and Ticker Capital, Howdoo has the resources and wider exposure to further its penetration into the social media industry.
“We’re really proud that Howdoo has been hand-picked to be part of the Unicorn Booster Scheme,” detailed Howdoo’s Chief Marketing Officer, Jason Sibley, in the blog announcement. “It’s another example of how the utility of the uDoo is turning heads throughout the crypto world and beyond, and we very much look forward to CoinTiger and Ticker Capital sharing in our success in the months to come.”
Exchanges Pushing Crypto Innovation.
The Cointiger Unicorn Booster scheme is part of a broader trend in crypto where exchanges are helping to pioneer much of the innovation at the underlying technological level. From Binance Labs to Coinbase Ventures, exchanges have the users, liquidity, and funding to help accelerate the growth of startups in the emerging crypto market.
Cointiger even has a unique equity mechanism through its native Tiger Cash token, where token holders receive a portion of the net profits accrued by the exchange. Based in the crypto-friendly haven of Singapore, Cointiger’s vision is complementary to the long-term goals of projects like Howdoo and their eventual onboarding of more users.
Exchanges increasingly serve more purposes than simple crypto-fiat gateways and are proving pivotal components of helping to onboard mainstream users and financial institutions. Partnerships, like Cointiger and Ticker Capital, reflect the initiative taken by investment firms to empower exchanges with the financial resources to grow communities, and may ultimately end up being the spark necessary to attract users from conventional social media to blockchain-powered applications.
The crypto onboarding problem has historically been a subpar user-experience and complicated underlying technology of crypto-oriented apps, but further investment by exchanges and other financial groups can help diminish that barrier quickly.
Howdoo is a prominent example of the product that can be produced from such a trend, fusing the best aspects of major social media platforms into a blockchain-based application that removes many of their adverse components — specifically privacy intrusions and monetization handcuffs administered by big tech firms.