Social media platform Bluesky has secured $15 million in Series A funding, led by Blockchain Capital, with participation from Alumni Ventures, True Ventures, SevenX, and notable tech investors.

Key developments from the funding announcement:

• Platform will introduce creator monetization features
• Subscription model planned for premium features like high-quality video uploads and profile customization
• Basic platform access will remain free
• No blockchain or cryptocurrency integration
• Paid accounts won't receive preferential treatment in rankings
• Direct payment system for creator support (similar to Patreon)

The platform currently boasts over 13 million users and has seen significant growth, particularly during recent X/Twitter controversies. Bluesky plans to use the funding to:

• Support community growth
• Enhance Trust and Safety measures
• Develop the ATmosphere developer ecosystem
• Implement new monetization features

The company emphasizes its user-first philosophy, distinguishing itself from competitors by avoiding hyperfinancialization through tokens, crypto-trading, or NFTs.

Related Articles

Previous Articles