press release. read (readon.me), a company aiming to leverage blockchain to provide users with an entirely new content consumption experience, has completed a seed investment round $2 million Led by SevenX Ventures.
Other investors include HashKey Capital, Foresight Ventures, Sky9 Capital, ArkStream Capital, Puzzle Ventures, CyberConnect, M23 Fund, Smrti Lab, and private investors. Seed funding will be used to develop the ReadON mobile application and decentralized recommendation system.
Co-Founder and CEO of ReadON, Neo Y. is a serial entrepreneur who founded a game and application company with 500K DAU and $10M in revenue in 2020. Neo previously served as Product Director at Qutoutiao (NASDAQ: QTT)., Responsible for designing the best Play2Earn products in China, with 30 million daily active users.
Troy H., Co-Founder and CTO of ReadON, was previously Senior Technology Manager at ByteDance. Prior to that, he was Senior Technical Officer at Pinterest (NYSE: PINS). Troy holds his master’s degree in computer science from Carnegie’s Natural Language Processing Lab at Mellon University.
“Traditional Internet platforms have supreme authority over content delivery and user data, serving content to users based on that rather than allowing users to choose what content they want. So algorithms are creating information silos.
ReadON aims to create a unique distribution model by allowing the community to upvote and curate content so that users can access high-quality content efficiently.
Users with experience, knowledge, and influence on various topics can gain voting power through topic-bound NFT mechanisms and pass judgment on curators. With the help of True-Read technology, content consumers’ reading behavior can also change curator’s evaluations.
ReadON aims to attract and engage more creators and curators into the world of Web3 and enrich the on-chain content ecosystem. In the future, ReadON will also release a plugin that will make it easier for creators to claim ownership of content created on Web2 social media platforms such as Medium.
ReadON co-founder Troy said: ”
ReadON is a decentralized content delivery platform that created incentive mechanisms for consumers, curators and creators with a unique topic-bound NFT design. ReadON aims to help users efficiently and freely access high-quality content, break down information silos and explore a truly new world.
ReadON was the only project to win the Community Choice Award at the Solana Riptide Global Hackathon in April 2022. The public beta of ReadON’s mobile application will be released in September this year.
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