- Anthony Pompliano and other popular crypto figures have shown support for a new social media called “Locals”
- Locals Technology Inc, or locals.com, is an alternative to commonly used social platforms like Youtube and Patreon that gives creators more freedom
- The platform is not blockchain-based, yet, it quickly interests crypto influencers who have suffered demonetization, censorship, or content deletion
Locals, a social media platform that launched in 2019, has earned strong support from bitcoin bulls and crypto pundits who have suffered bans, demonetizations, restrictions, and other kinds of censorship.
In an announcement, the company revealed that they have raised $3.8 million in a seed round. The round was led by Craft Ventures with the participation of renowned crypto proponents including former Coinbase CTO Balaji S. Srinivasan, Morgan Creek Digital Assets co-founder Anthony Pompliano, founder of Apeiron Investment Group Christian Angermayer, and The Little Bitcoin Book co-author Alexander Lloyd.
Locals is different from other social platforms in that it gives full control to creators by allowing them to publish content without having to struggle with twisted censorship standards. The platform also claims to offer 3x More Revenue than fellow alternatives.
Scott Adams, the man behind the famous Dilbert comic strip, said he joined Locals to take back content control, mentioning that he always fears getting demonetized:
Before Locals, I couldn’t control what anybody saw because Twitter could shadowban me, YouTube could demonetize me and it looked like one wrong move and I would just be out of business. I was putting tons of work into something that I had no control over. These platforms could just snap a finger and I’d be out of business.
Creators on Locals have the power to set their own rules for allowed content in their communities. This moderation power and control over their own community is like the lost dream of most creators.
Additionally, creators arrange their own monthly subscription fees, with Locals commanding a cut of 10% from the monthly revenues. This is because the platform utilizes its own currency “Local Coin” — a non-decentralized digital currency with a stable value of $0.10.
Crypto Community Likely To Be The First Mover
Crypto influencers and advocates who often get banned or censored on the commonly-used social media platforms such as Twitter and Youtube will be among the very first ones to switch to Locals.
Despite the platform not being blockchain-based, it easily interests hordes of crypto influencers who have suffered bans, demonetization, censorship, or content deletion.