Decentralized publishing platform t2.world (t2) has raised $3.4M in a Seed Funding Round led by Inflection and Archetype, with participation from Metaweb, SevenX Ventures, Seed Club Ventures, Block0, GCR, Generalist Capital, and Marc Weinstein.
t2’s mission is to encourage deep reading, create a social experience around reading, and bring a promising solution to the global reduced attention span. This investment brings t2 closer to its goal of empowering readers and writers to grow their communities in the Web3 space by utilizing new economic and voting tools leveraged by blockchain technology.
Believing that those tools can be employed for promoting human-centric ethics and community, the team led by Mengyao Han, CEO & Founder of t2.world, is building a more transparent, decentralized, and collaborative narrative for the future and an alternative for the extractive attention economy.
Aligning incentives between readers, writers and curators
t2 enables users to monetize their time and attention investment as they interact with content by ushering in a new read to contribute, read and earn model. By utilizing this model, the platform provides infrastructure for decentralized communities (DAOs) to develop and monetize their subcultures by curating high-quality content.
t2 is designed as a decentralized online publisher that promotes collaboration, with the incentives between different users (writers, readers, and curators) thoughtfully aligned so that everyone collects fair rewards for contributing.
t2’s protocol uses time as a matrix of value capture and distribution by passively minting and dispersing tokens with real world value to content creators, readers, and communities for participating in the ecosystem and playing an integral part in curating the content.
This seemingly utopian world is about to become a reality powered by Proof-of-Attention tokens, TXT (Time X Time), which embodies how users contribute to the network from their interactions with content and subsequently return them with tangible value.
The protocol is designed to capture the curation value generated from users’ time spent deep reading and the platform’s native token represents the value created from one hour of curated human attention in attention markets.
“We couldn’t be more excited about working with the phenomenal t2 team. t2 is a user-owned platform taking a leap to a new model of humane content curation through a read-and-earn incentive mechanism. At the core of this mechanism lies the human time spent on deep content interaction (Proof-of-Attention). We believe that t2’s approach holds the potential to turn the internet on its head by replacing clickbait with quality content for people to read and learn,” commented Alexander Lange, Founding Partner at Inflection VC.
The exciting roadmap ahead
t2, based primarily in London, will be deploying the $3.4M investment toward creating the platform’s revolutionary Proof-of-Attention (PoA) model to incentivize deep reading, developing a vibrant, sustainable reader and writer community and hiring key talents.
t2 is in the midst of development, and plans for working on the Beta product and onboarding the first group of writers and high-quality content are in motion. Aiming to launch the first version in late 2022, preparations for building the community and setting up the ambassador program as an extended team are underway.
Focused on helping decentralized communities to form and grow their subculture, t2 is also laying the groundwork for developing content partnerships, connecting with writers, content houses, and DAOs, and defining the future of t2 together with strong subculture allies. In the meantime, t2 is inviting new users to test the product, report bugs, and suggest new features. Anyone interested in being an Alpha tester, is encouraged to sign up via the allowlist application.
“We are ecstatic to support t2. Mengyao and the team bring a unique, experienced UX/UI lens to web3 content alongside a disruptive Read-and-Earn mechanism. We at Archetype believe t2 can unlock an untapped market by designing a new era in content consumption and curation whereby users become stakeholders rewarded for their contributions,” noted Ash Egan, Founder and General Partner at Archetype.
To sign up for t2’s Alpha allowlist, visit: https://tpvk67rvwpq.typeform.com/to/d8wrzPbo
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2022/10/t2world-raises-34m-to-empower-readers-and-writers-in-the-decentralized-future