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.
- 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.
