Reveal Picks Up $1.5M To Deliver Cryptocurrency To The Cellular-Social Area
Reveal, a startup targeted on the cellular-social area, has raised a $1.5 million seed spherical. The capital occasion was led by Resolute Ventures, and took part in by Digital Foreign money Group and Increase VC, amongst others.
The startup’s app is notable for 2 issues: It’s fascinating, and enjoyable query and reply format, and that the corporate is utilizing a cryptocurrency, backed by its personal future incomes, to reward customers for his or her participation within the software’s group. Sooner or later, in line with Reveal, cash that customers accumulate shall be salable to advertisers, thereby absorbing a few of these monies.
It’s truly a enjoyable concept: The earlier you get into Reveal the extra coin you decide up for utilizing the service. It’s a neat approach to incentivize early adoption.
The cryptocurrency, Reveal Coin, is just like bitcoin, however is as an alternative managed by the corporate. Like bitcoin, there’s a “restricted” provide of the stuff, to cite a launch from the startup.
I dug the Reveal concept, so I dragooned the founding group into TechCrunch HQ right here in San Francisco to talk concerning the app, and work out the place the hell they received their concept.