ZBD Social Launches Bitcoin-Powered Network
What happened
ZBD Social has launched a social network built on the decentralized NOSTR protocol that integrates Bitcoin micro-payments. Users can send small amounts of Bitcoin, called "ZAPs," to reward content creators, replacing traditional likes with a direct economic incentive. The platform's model is designed to appeal to Gen Z's interest in creator monetization and authenticity.
Why it matters
- ZBD, the company behind the social network, was founded in 2019 by Andre Neves, Christian Moss, and Simon Cowell, and is primarily a fintech company focused on integrating Bitcoin's Lightning Network for payments and rewards in the gaming industry. - The "Zaps" feature is powered by the Lightning Network and was enabled by Nostr Improvement Proposal 57 (NIP-57), which standardized the process for sending Bitcoin micropayment receipts across the decentralized network. - The alpha version of the social features was announced in June 2023, with launch partners including Fumb Games, Wavlake, and Fountain, allowing users to earn from games, music, and podcasts. - ZBD's implementation of Nostr was a custodial client, meaning it managed users' keys to simplify the login process with a standard email and password, lowering the barrier to entry for a mainstream audience. - The Nostr protocol itself originated from a ZBD employee's side project, which led the company to form an open-source arm called NBD to support its development. - Under its model, ZBD intended for creators to retain 99% of the earnings they received through Zaps, providing a direct and nearly complete pass-through of revenue. - ZBD later removed the "Social" tab from its main application, citing challenges with rising fraud and the significant cost of content moderation as primary reasons for discontinuing the feature. - Despite removing the integrated social tab, ZBD stated its continued belief in Nostr's potential and users could retain their profiles and access them on other Nostr-compatible applications.
Key numbers
- - ZBD, the company behind the social network, was founded in 2019 by Andre Neves, Christian Moss, and Simon Cowell, and is primarily a fintech company focused on integrating Bitcoin's Lightning Network for payments and rewards in the gaming industry.
- The "Zaps" feature is powered by the Lightning Network and was enabled by Nostr Improvement Proposal 57 (NIP-57), which standardized the process for sending Bitcoin micropayment receipts across the decentralized network.
- The alpha version of the social features was announced in June 2023, with launch partners including Fumb Games, Wavlake, and Fountain, allowing users to earn from games, music, and podcasts.
- Under its model, ZBD intended for creators to retain 99% of the earnings they received through Zaps, providing a direct and nearly complete pass-through of revenue.
What happens next
- The alpha version of the social features was announced in June 2023, with launch partners including Fumb Games, Wavlake, and Fountain, allowing users to earn from games, music, and podcasts.
- Despite removing the integrated social tab, ZBD stated its continued belief in Nostr's potential and users could retain their profiles and access them on other Nostr-compatible applications.
Quick answers
What happened in ZBD Social Launches Bitcoin-Powered Network?
ZBD Social has launched a social network built on the decentralized NOSTR protocol that integrates Bitcoin micro-payments. Users can send small amounts of Bitcoin, called "ZAPs," to reward content creators, replacing traditional likes with a direct economic incentive. The platform's model is designed to appeal to Gen Z's interest in creator monetization and authenticity.
Why does ZBD Social Launches Bitcoin-Powered Network matter?
ZBD, the company behind the social network, was founded in 2019 by Andre Neves, Christian Moss, and Simon Cowell, and is primarily a fintech company focused on integrating Bitcoin's Lightning Network for payments and rewards in the gaming industry. The "Zaps" feature is powered by the Lightning Network and was enabled by Nostr Improvement Proposal 57 (NIP-57), which standardized the process for sending Bitcoin micropayment receipts across the decentralized network. The alpha version of the social features was announced in June 2023, with launch partners including Fumb Games, Wavlake, and Fountain, allowing users to earn from games, music, and podcasts. ZBD's implementation of Nostr was a custodial client, meaning it managed users' keys to simplify the login process with a standard email and password, lowering the barrier to entry for a mainstream audience. The Nostr protocol itself originated from a ZBD employee's side project, which led the company to form an open-source arm called NBD to support its development. Under its model, ZBD intended for creators to retain 99% of the earnings they received through Zaps, providing a direct and nearly complete pass-through of revenue. ZBD later removed the "Social" tab from its main application, citing challenges with rising fraud and the significant cost of content moderation as primary reasons for discontinuing the feature. Despite removing the integrated social tab, ZBD stated its continued belief in Nostr's potential and users could retain their profiles and access them on other Nostr-compatible applications.
