Facebook MeWe Alternative Will Join Project Liberty Protocol

Facebook MeWe Alternative Will Join Project Liberty Protocol

MeWe, a free, subscription-based social media platform that bills itself as a privacy-focused alternative to Facebook, is migrating its entire platform to a decentralized, blockchain-based web infrastructure backed by billionaire Frank Frank’s company Project Liberty. McCourt.

Why it matters: With 20 million users, MeWe becomes the first major social network to migrate its technology to Project Liberty’s Decentralized Social Network Protocol (DSNP).

  • This is a great validation of the project,” McCourt told Axios. MeWe’s shared values ​​around privacy and user control “were a big reason we agreed to go ahead with MeWe.”

Get up to speed quickly: McCourt launched Project Liberty last year with more than $150 million in personal investment. He is looking to raise another $150 million.

  • In addition to building a new governance structure for the web, Project Liberty is also building a blockchain-based public web infrastructure that is intended to facilitate social networking.
  • Most blockchain technologies are designed for financial transactions, said Braxton Woodham, technology lead for Project Liberty. “Social networks are very different dynamics.”

Details: MeWe will migrate all of its back-end technology to the new DSNP infrastructure over the next six quarters, its president and CEO, Jeffrey Edell, told Axios.

  • Its users will be able to transition to the decentralized system in 2023. The new system will offer users new features, including a passwordless and secure login option.
  • Before making the decision, Edell said he surveyed MeWe’s user base to make sure they would support the change, and they were largely supportive of the idea.

Be smart: The business deal to move MeWe to Project Liberty’s web platform follows a new $27 million investment round in MeWe led by McCourt Global, McCourt’s private company. McCourt Global put $15 million into the round.

  • Edell said he will use the money on marketing awareness to attract more users to the new platform and redesign the social network for its new home.
  • Today, MeWe says it has around 20 million registered users, with tens of thousands of paid subscribers. MeWe offers users a more robust experience for $4.99 per month or $29.99 per year.

  • Edell said he hopes to double the platform’s user base in the next year. Currently, there are 610,000 groups on the platform.

The panorama: MeWe is one of several alternative social networks that have gained traction as more users become skeptical of big tech.

  • Edell noted that moving to a public web infrastructure, one where the rules of engagement are controlled by users, not a large company, “is really what it’s all about.”
  • MeWe insists it is politically neutral, but like many free speech platforms, its app became a home for conservatives who felt disenfranchised by traditional social media companies in the wake of the January 6 insurrection. .

Yes, but: Project Liberty’s DSNP Internet Protocol will only be as strong as the user base that governs it.

  • While MeWe is a large platform compared to some apps, the vast majority of the internet’s social networking ecosystem is still running on web platforms owned by a few giant companies.

Whats Next: Project Liberty is currently in talks with other apps to join the platform, McCourt said.

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