WEENTAR — Social currency is real !
What is Weentar ?
Weentar is a decentralised social media project. We are creating a platform that allows for celebrities, influencers and creators launch their social tokens as easily as creating a profile and also have their media content posted as NFT’s on a decentralised social media platform on the Weentar blockchain.
One of the things that we understand deeply at Weentar is that real adoption happens when the relevant people campaign for it. Our strategy to become the top social media 3.0 platform will be our campaign to onboard celebrities, influencers and creators of all genres in various countries to spread the word of mouth regarding this revolution
For Creators
Creators can gain independence through a decentralized personal digital currency system that is linked with their growth and engagement with their community. On top of this, creators build their content as NFTs which they distribute through their own ecosystem with their digital currency being the backbone of that system.
For Fans
Fans can now interact with their favourite creators like never before. By holding the social token of their beloved creators, they remain an active part of the creators community. They gain access to exclusive content by holding a certain amount of a person’s social token or are able to purchase really unique masterpieces from the creator’s digital pencil.
Our goal is to provide an infrastructure that is easy to use for both creators and consumers alike. We are planning to create our own blockchain infrastructure which is serving this purpose in the most efficient manner. On top of this infrastructure, we are going to build a community-driven platform that brings creators and consumers closer together than any other platform before. We are using the unique capabilities of blockchain technology to reach this ambitious goal.
The network’s fuel will be its native coin $WNTR which will launch together with the blockchain. With $WNTR creators can add their content to the network that consumers can purchase by paying $WNTR. Currently, we are working hard on specifying the technical detail of this chain in order to create the perfect technical fit for the above-described purpose. There are many options out there to choose from, but since our mission is to provide the best experience for all network participants we do not want to make a blind decision but rather identify the perfect basis for a unique experience of this next-level social ecosystem.
Decentralised social media would be led by celebrities.
Real adoption of cryptocurrency would begin when celebrated individuals own their digital currency and can push for its adoption through their own communities as easily as pushing their onlyfans page. The socialmediafication and therefore gamification of cryptocurrency is the last step of global adoption. We believe we are well equipped to bring this about. First celebrity Weentar brings on board and partners with is Lil Yachty , a very popular American rapper.
The Last Week’s Highlights for Weentar May 24 — May 30 , 2021
Listed on CoinTiger Exchange
Live on CoinGecko & CoinMarketCap
Running Successful Meme Contest
Reached All-Time High in Holders
Added to 600+ Watchlists on CoinMarketCap
Reached 150+ Subscribers on Reddit
CEO Live on CNBC Africa
Weentar CEO Eduardo Fonnegra appeared on CNBC Africa recently to speak about Weentar, NFT’s, and the future of social media. The full interview is now available to watch here:
Yesterday (June 2, 2021), Weentar’s CEO Eduardo Fonnegra and CTO Sebastian Dine joined the community for a live voice chat and AMA session. Community members asked some great questions, and both Eduardo and Sebastian have some wonderful insight into the future of Weentar. Here is a recap of the major points discussed:
Sebastian Dine is the Chief Technology Officer at Weentar and the other co-founder alongside Eduardo. Sebastian has an extensive tech background: nearly 15 years total with 3 years in the blockchain industry specifically.
There are 3 major parts that are being worked on by the developers: Native blockchain, smart contracts, and the web application.
— Blockchain: setting up the first nodes and adjusting them to our needs.
— Smart Contracts: Alpha version of the MVP is ready. The features are complete, going through internal testing.
— Web app/interface: Team of designers currently building the design.
Next technical step: Deploying from local blockchain on to the real blockchain and wiring everything together, and then extensive testing to make sure everything is running smoothly on launch.
About staking pools: The platform is being built in a modular way so that as soon as the core of the platform is ready it can launch and people can start to use it. The development team will be able to add modules onto the platform later down the line. At first launch of the MVP, there will be no staking, but later there will be something like staking added.
Update on celebrities: At the moment the focus for this area is on developing relationships with crypto influencers. It makes more sense to focus on crypto influencers while the platform is still being developed, and the mainstream bigger celebrities once the platform is launched. There are celebrities already lined up for the platform, Eduardo is working closely with management teams to make sure celebrities will be ready to join, but the biggest focus of the project is the launch of the MVP (minimum viable product, the basic platform) at the moment.
Screenshots from the MVP should be posted within the next 2 weeks. The goal is to also provide a video or live demonstration within the next month. The current goal is to have the MVP up and running launched within the next 2 months.
Reminding everyone that this is still a long-term project. There is still work being done to bring awareness to the token, but the main priority at this stage is the platform, so that when it launches it comes with a lot of hype and celebrities and users.
Additional exchanges being planned, but no specifics to release yet.
Reminder from Eduardo again that, even though you are not seeing celebrity names being announced, celebrities and influencers are already lined up and ready to go. Announcements and engagement are being strategically planned around the launch of the MVP for maximum impact.
Walk-through of the MVP: Once a creator joins the platform, they are assigned a smart contract that automatically mints their social tokens. Social tokens increase in quantity up to a maximum of 10million social tokens over 3 years. Users can then buy the social token of that celebrity or creator. Creators can then create their NFT content and users can start bidding on the NFTs. Once a user places a bid, a timer will start so that the initial auction ends in 48 hours. Once the auction ends, the auction winner will become the owner of the NFT. For standard bids, users will have to double the previous high bid, making social tokens more important (and more valuable). However, if you hold more social tokens for that creator than the current highest bidder, you can bid an equal amount and you will be recognized as the highest bidder.
That is the basic MVP, but later there are plans for a marketplace, an auction house, and much more can be added to the Weentar system.
Weentar is the blockchain, Weentar Coins will be the base currency/native coin. Comparable to how Ether (ETH) is to Ethereum. Weentar tokens (BSC) will be able to be exchanged for Weentar Coins, and Weentar Coins will be used for purchasing NFTs and social tokens (and much more in the future).
The value of social tokens compared to Weentar tokens/coins will be determined by the market: If a celebrity is very popular with a large following and producing lots of great content, it could be that their individual token has a price/value much greater than Weentar coins.
The blockchain will launch with 900m Weentar coins (the amount of tokens currently available) but more will become available through the process of validating.
There are other projects and organizations getting into NFTs, but it is important to understand Weentar is not just about selling NFTs or such. It is a blockchain with a complete social ecosystem, with effectively unlimited features (modules) that can be added in later.
Everyone will be able to join Weentar as a content creator with no criteria.
Tokens will not be automatically converted to Weentar Coins, there will be a bridge created where users can convert them from Weentar tokens on the binance smart chain to Weentar coins on the Weentar blockchain.
The process of creating/minting social tokens is all automated with no involvement by the creators themselves. For example, creators cannot decide to mint extra tokens faster etc, it is all automated.
Corporate collaboration/partnership announcement hopefully within 2 days.
Weentar promises that the team is working as hard as possible to bring significant value to the investment people have made. The development team has 4–5 people usually working on the project. 2–3 solidity smart contract developers, a blockchain engineer, and 2 web developers who are familiar with integrating with the smart contracts.
The price target is $1/coin by the end of the year (but this is just a target).
