Coindesk Logo

Bitcoin Social Network ZapChain Raises $350k

Bitcoin Social Network ZapChain Raises $350k

Bitcoin Social Network ZapChain Raises $350k

Bitcoin-powered social media platform ZapChain has raised $350,000 in seed funding and is launching a new digital goods initiative with Coinbase.

Bitcoin-powered social media platform ZapChain has raised $350,000 in seed funding and is launching a new digital goods initiative with Coinbase.

Bitcoin-powered social media platform ZapChain has raised $350,000 in seed funding and is launching a new digital goods initiative with Coinbase.

AccessTimeIconNov 6, 2015, 2:05 PM
Updated Aug 18, 2021, 4:20 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Bitcoin-powered social media platform ZapChain has raised $350,000 in seed funding and is launching a new digital goods initiative in partnership with Coinbase today.

The money was raised from venture capitalist and Draper Fisher Jurvetson (DFJ) partner Tim Draper, Boost VC founder and CEO Adam Draper and the Boost Bitcoin Fund.

According to ZapChain chief operating officer Dan Cawrey, the funds are being used to expand its ranks of content creators and digital community members.

"I invested in ZapChain because the company is giving bitcoin one of its highest and best uses," Tim Draper said in a statement. "I am excited about how the blockchain can easily make micropayments to journalists and other media producers without bank friction."

The site's partnership with Coinbase, unveiled today, enables users to purchase and sell bitcoin within ZapChain, facilitating the purchase of digital goods on the platform. Recording artist Talib Kweli will be selling his latest album, Indie 500, as well as individual songs via ZapChain.

indie500

In statements, Kweli said that the technology behind bitcoin can help make music more accessible – and potentially open new markets for musicians.

"We believe in doing the music that we love and getting it to the people that love it, no matter where you are or who you are," he said.

ZapChain is also launching a new digital community creation tool today. Users can customize community incentives using bitcoin, meaning that micropayments can be made to those who post content, start discussions and sell products or services.

Image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.