Atom Accelerator DAO (AADAO) Grant Announcement Card - in Blank
Team: Gregory Hamalian
Amount Asked: $50,000
Status: Rejected

Reddit Community Currency Program

This page's content is auto-generated from the grant application based on the content the applicant gave consent to share. Since this application is still pending review or was rejected, the Atom Accelerator DAO is not endorsing or otherwise indicating support for this project. This page has been made public as part of our commitment to transparency

Our mission is to use web3 technology to economically empower communities with tools to grow their own users’ economies and incentivize quality content on traditional web2 platforms. Through our unique skill set, we are able to seamlessly integrate blockchain technology and unparalleled customer care to onboard dedicated, web2 savvy users. As the fastest growing social media site (recently surpassing twitter) and with over half a billion users, Reddit has proved to be a fertile ground for scaling worldwide, though the team has strategies in place for other social sites such as: Discord and X (formerly Twitter). We seamlessly bridge web 2 users to Web 3 and we’re good at it!We also solve the “Community Value Distribution Problem” that many social media sites struggle to overcome.

We are onboarding people to the creator economy.

The Community Value Distribution problem is as follows:  Social media sites due to government regulation and the value users bring to the platform – these entities are unable to support a legitimate currency and economy.  Platforms derive their value from users – therefore, the medium of exchange must come from the user base itself. Simply, since the value emanates from the user it is the user that must supply the currency.

By creating an application that runs on top of the native social media platform, we remove the necessity of the social media platform to monetize users & instead create economies where users decide which type of content they deem worthy of monetization.

We’ve created a platform that currently provides a service to over 10M Reddit accounts, with over 2M having little experience or exposure to web3.  We are making sure web3 technology becomes ubiquitous.

Team: Gregory Hamalian
Current Status: Rejected
Funding Program: Regular Grants
Funding Category: Cross Industry Collaboration

Amount Requested: Amount in their initial application, or for RFPs, their first quote or that of the nearest competitor $50,000

Date Applied: Jul 01, 2024
Date Rejected: Generally includes time spent doing interviews, rescoping or amending the application, and due diligence Nov 27, 2024 (21 weeks)

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