London-based startup Wunder.Social aims to transform social media with $50 million funding, focusing on user authentication and ad revenue redistribution.
A London-based blockchain startup, Wunder.Social, has successfully secured $50 million in funding aimed at transforming the landscape of social media. The announcement was made on Wednesday and reported by CoinDesk, with the funding round led by Rollman Management.
Wunder.Social is positioning itself as a pioneer in integrating blockchain technology into social media platforms. The primary objective is to authenticate users on the platform, effectively reducing the prevalence of bots that have become an increasing concern on traditional social media. In addition to user verification, the platform has committed to redistributing advertising revenue back to its users, enabling them to support causes that are meaningful to them.
As part of its growth strategy, Wunder.Social is also set to initiate a token offering later this month. The startup has encouraged potential users to register on its website to stay informed about this offering.
Further bolstering its leadership team, Wunder.Social has announced that Ryan Martin, the former head of marketing at TikTok, has taken on the role of chief marketing officer. This recruitment is expected to enhance the company’s marketing efforts as it seeks to establish itself in a competitive market.
The reported funding and strategic hires reflect Wunder.Social's ambitions to innovate within the social media space and establish a more user-focused platform leveraging blockchain technology.
Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative mentions a recent funding round and strategic appointments, indicating the information is current.
Quotes check
Score:
0
Notes:
There are no direct quotes in the provided narrative.
Source reliability
Score:
8
Notes:
The narrative originates from CoinDesk, a reputable publication in the cryptocurrency and blockchain space. However, without additional sources, the reliability score is not at its highest.
Plausability check
Score:
9
Notes:
The claims about Wunder.Social's funding and blockchain-based social media platform seem plausible. However, specific details about the token offering and user verification processes lack supporting evidence.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative appears to be current with recent funding announcements and strategic hires. While there are no direct quotes and the plausibility relies on unverified details about the platform's features, the overall context suggests a legitimate news report from a reputable source.
