A new social media platform called Locals has received strong support from leading cryptocurrencies as part of an effort to escape major technical censorship.
Locals Technology, Inc. announced a $ 3.8 million round of investment on April 20 and included support from Morgan Creek Digital Assets co-founder Anthony Pompliano, former Coinbase CTO Balaji S. Srinivasan and Alexander Lloyd, co-author of The Little Bitcoin Book .
Locals is an alternative platform that gives control to independent creators by allowing them to post content without struggling with the ambiguous censorship standards on social media platforms such as YouTube and Patreon.
Scott Adams, the creator of the comic Dilbert, said he joined Locals because it gave him control over his content, noting that he was concerned about what content he might post in the face of a shadow ban or demonetization:
Before the locals, I had no control over what anyone saw because Twitter could shadow me, YouTube could demonetize me and it seemed like the wrong move and I would just go bankrupt. I put a lot of work into something that I had no control over. These platforms can click away with a finger and I would be out of business. “
While the platform is not blockchain-based, it is likely to be of interest to crypto influencers who have fallen victim to similar shadow bans, demonetization, video removal, and algorithms that allegedly work against crypto content.
Co-founder and CEO Assaf Lev noted on the company’s website that the purpose of the platform was to put creators back in control:
“We created locals.com to give creators more: more money, more control and real ownership of their own content and audience.”
Creators on the platform can set the rules for allowed content in their own “communities”, with fans also able to post content in the communities they are subscribed to. Co-founder Dave Rub in, who is an outspoken political commentator and YouTube personality, Locals started with the idea of leveling the playing field:
“When you think about the relationship between the major social media platforms and the creator of the content, the equation is reversed. The content creator is the reason people visit these great tech platforms, and yet they are the ones who make the lion’s share of the money. “
Video makers can set their own monthly subscription costs, with the locals getting a 10% discount on the total monthly revenue. The platform works with Local Coin, a non-crypto virtual currency with a value of 10 cents.
The drive for free speech to monetize has led to a lot of innovation for blockchain-based solutions. On April 1, Cointelegraph reported on various platforms aiming to resolve the vague content monetization policies of the major platforms. For example, GazeTV, You42, and AIOZTube are all focused on providing a transparent way for creators to post content while tracking revenue on the blockchain.