Tweetoshi successfully closed an founding round, launched a Rewards program and Marek "Slush" Palatinus joined the team.
Alex Pilar, (Pallaemon Digital) joined the project as an angel investor right at the beginning and also participated in another successful investment round earlier this year, which closed without VC funds present.
"Great team, full of energy. I was intrigued by the idea of treating social media users like content creators. It's only fair that some of the value created on the networks should go to them. Bitcoin and Lightning are the obvious choices to do this. The fact that Marek, an icon not only of the Czech Bitcoin scene, joined the team is a huge motivation but also a responsibility :)."
Marek "Slush" Palatinus, the most prominent personality of the Czech bitcoin scene; CEO of Satoshi Labs (maker of the Trezor hardware wallet), is also helping the authors of the project in the position of a mentor.
"I've been following the second layer of Bitcoin - Lightning Netowork for a long time and the Tweetoshi app is one of the projects that makes sense here and could accelerate the adoption of this technology beyond ordinary Bitcoin users."
Tweetoshi is a crypto startup that rewards users with bitcoin for using Twitter and allows sending bitcoin between users.
The app works like a Twitter client — everything that is on Twitter can be seen in Tweetoshi. It currently works on Android & iOS and is currently available for download. Anyone who uses Twitter can now get started and receive bitcoin "for the activity they do every day anyway", plus it can increase in value in the future. And all this on a super fast and cheap second layer of bitcoin — the lightning network.
Among social networks, Tweetoshi has a unique business model (just so someone doesn't pay users to consume content), which is made possible by sharing revenue with end users. Users can then send the bitcoin on to their favourite Twitter creators or withdraw it from the app at any time to any LN-enabled btc wallet.
With Tweetoshi, users can experience how it works and what it's like to have bitcoin without having to invest in it (use-to-earn principle).
“Alex and I have been working together since the beginning and I had dreamed up two more names — with the hyperbole of "Czech Bitcoin founder" Mark Palatinus and Twitter founder Jack Dorsey. It worked out with Slush and I'm overjoyed. We want to show the world that social networks can be done differently and get Bitcoin into the hands of as many people as possible in a simple way.”
Matěj Švancer — CEO Tweetoshi