Web3 Platform Vision.tech Revolutionizes Ownership, Shares Profits with Users
Vision.tech, a groundbreaking social platform harnessing Web3 technology, has introduced an innovative ownership model by offering shares to its users. This transformative move empowers platform users, elevating them from mere participants to invested stakeholders in the company’s success.
The shift reflects a broader trend towards democratization within the digital realm, aligning investment dynamics with the ethos of inclusivity.
In the new paradigm, Vision.tech users undergo a transition from content creators and consumers to active investors in the platform. This transition fosters a deeper sense of community and strengthens the bond between users and the company.
This user-centric initiative became possible through an agreement with previous shareholders, including Paradigm. These stakeholders have consented to transferring the rights of selling tokens directly to the platform’s users, propelling Vision.tech towards a more inclusive and equitable model.
This move by Vision.tech opens up untapped opportunities for user engagement and investment in the crypto industry. By granting users ownership stakes and control over tokens, the company advocates for a fairer approach to technology entrepreneurship and governance.
Challenging the traditional approach to venture capital financing, this groundbreaking shift signals a departure from exclusivity to broader user participation and investment. Users now possess the power to shape the platform’s trajectory, fostering a cooperative and collaborative culture.
Of notable importance is the instrumental role played by Paradigm in this move. Recognized for its investments in innovative technology ventures, the crypto venture capital firm has distributed shares among users, signaling a significant rise in more decentralized and user-focused business models.
Although Friend.tech had a splashy debut when it launched on August 10, 2023, the platform’s popularity has experienced a recent downturn. Despite initially attracting over 200,000 users and facilitating a trading volume surpassing $230 million, revenue has fallen to under $15,000 in the past couple of months.
The platform’s unique offering of converting user influence into tradable tokens, called “keys,” has attracted not only cryptocurrency influencers but also NBA players and esports personalities, expanding its appeal beyond the crypto space.
Friend.tech’s association with the Base network, a Layer 2 solution linked to Coinbase, further contributed to its initial success. Additionally, the involvement of Paradigm, a Coinbase-connected investment firm, increased confidence in Friend.tech’s potential.
However, privacy concerns surrounding potential user doxxing due to the link between Twitter profiles and Ethereum addresses have impacted Friend.tech’s reputation. The platform has addressed these concerns by clarifying that the leaked information originated from their public API, showcasing its transparent nature while emphasizing user caution in safeguarding personal information.
Despite the recent challenges faced by Friend.tech, visionaries at Vision.tech remain steadfast in their commitment to transforming ownership dynamics and fostering a more inclusive and decentralized digital future.