Primal, a company focused on creating bitcoin-integrated applications for the Nostr social network, has successfully raised $1 million in funding from investors including Ten31 and Hivemind Ventures.
Empowering Primal’s Mission
Primal’s core objective is to enable users to send micro bitcoin payments, called “zaps,” to fellow users who share enjoyable content or items globally. Founder and CEO Miljan Braticevic emphasizes the platform’s user-friendly interface, akin to Twitter, combined with the decentralized Nostr protocol. With approximately 30 million users, Nostr’s influence continues to expand.
Decentralizing Social Media
The initiative addresses the challenges of centralized social media, where dominant corporations wield control over permissible content. Primal’s model strives for a censorship-resistant and fully decentralized platform. Notably, both conservative and liberal voices have faced content removal or censorship, highlighting the broader concern.
Hope for Uninhibited Discussions
The decentralized nature of platforms like Nostr offers the potential for unimpeded discussions without hosting platform interference. This approach could foster open and candid conversations while minimizing retaliation risks.
Max Webster, the founder of Hivemind Ventures, which participated in the funding round, shared insights about Nostr’s unique approach.