Become a Creator today!Start creating today - Share your story with the world!
Start for free
00:00:00
00:00:01
#6 POT: The Cryptocurrency Podcast - Cheelee and Web3 Social Media with Viktoriia
96 Plays2 years ago
In a world where most people spend a significant portion of their day scrolling through trending videos and posts, Cheelee promises a more productive alternative.
The concept of Engage to Earn in Social Media is not new however, Cheelee is one of the first to desogn a mobile app and specifically around shortform video content — making it an interesting alternative to TikTok.
With nearly a million downloads and hundreds of thousands of users, Cheelee have made remarkable progress in just five months. The platform’s growth is set to continue as it expands its presence worldwide. Victoria teases the upcoming marketing push in Kazakhstan, however the application is available worldwide on both iOS and Android.
How to Earn on Cheelee
One of the standout features of Cheelee is its integrated NFT system. Users are rewarded with tokens for their engagement on the platform, creating an ecosystem where users can earn and benefit from their participation. In order to start earning on Cheelee users will need acquire a pair of digital glasses, in form of an NFT. You’ll get a starting pair at the beginning, but if you’re looking to improve your rewards, you’ll have to upgrade your digital glasses.
Each pair of glasses has different traits that you’ll want to upgrade, depending on your preferred style. You can upgrade your glasses with the $LEE token, which you earn by performing various actions on the Cheelee app such as watching content and following users. Cheelee recommend that you level up Lenses to maximize your earning potential.
The price of a $LEE currently sits at just over $2.63 USD and once you start earning, it’s up to you what you choose to do with this token. You can re-invest it by leveling up your glasses, withdraw or exchange for fiat, or, and this what I differentiates Cheelee from other social media apps out there — use it to boost your own content. Cheelee is currently working on an Ads Manager platform similar to Meta and Tiktok, but they will also allow users to use their earned $LEE in order to promote their content.
This offers additional value for content creators who want to make the most of their time while using the app.
Challenges of Engage To Earn
Naturally, all systems have their own challenges and limitations. One of the biggest vector for an exploit for Cheelee is its own monetization system. Viktoriia assured me that Cheelee is using machine learning along with other systems in order to detect and deter people wanting to exploit the engage to earn model.
Another challenge discussed on the Podcast is how potentially addictive a platform like this may be — where, not only are you encouraged to scroll to get your dopamine hit, but scrolling is now directly associated with a monetary reward. Cheelee are committed to steer the content of its platform into an educational direction and to incentivize people to create more educational content. Social media is not going anywhere, so according to Viktoriia, the solution is not to ignore social media, but to work towards making it better.
This podcast is fueled by Aesir, an Algorithmic cryptocurrency Trading Platform that I helped develop over the last 2 years that offers a unique set of features.
Recommended
Transcript
Transforming Social Media's Addictive Nature
00:00:00
Speaker
I believe there's only two things that people use every day is social media or financial applications. So through only two those things you can get to as many people as possible.
00:00:15
Speaker
And as you get as many people as possible and you have a good incentive in your heart, that's where you can start shifting the madness and addictiveness of social media to something that is more meaningful.
00:00:30
Speaker
So, but the first step is to get the audience and then, you know, incorporating the more educational content on the platform. And that's as well, you know, one of our mission. So yeah, I, I understand what you're saying here, because it's, it's, it is a lot, but it's also good to be addicted if you get paid.
Introduction to Andre and Victoria
00:00:57
Speaker
What's up, everyone? Welcome to Proof of Talk. I'm your host, Andre, and I'm here with Victoria from Chile. Now, Chile is a short video sharing application that allows people to earn money as they're watching content. Really interesting concept, but first of all, welcome Victoria, nice to see you.
00:01:15
Speaker
Hello everybody and I'm happy to be here. I had to read through your white paper and we were just talking a little bit beforehand about your application.
Monetizing User Time on Social Media
00:01:24
Speaker
What is your guy's vision and drive for creating this short video sharing application and what are you hoping, what kind of gap in the market are you guys hoping to fill?
00:01:36
Speaker
Yes, you know, I love this question because there is a kind of a few components to why we build it first and then why we're actually doing it. So let's imagine that. I love to give this example. I think everybody knows Airbnb.
00:01:54
Speaker
Right. Remember yourself when you wanted to, when you was traveling before, you never thought about making money on your apartment while you're traveling. So we didn't really know that we can make money on this.
00:02:12
Speaker
When Airbnb came into place, the same with the Uber, we drove the cars, we did not know we can monetize the cars while we're not driving for personal things. They showed us this time, which is important, it's the time and assets that you can monetize. So an Airbnb gave us opportunity to monetize apartments and Uber gave us opportunity to monetize cars. And we are in Chile giving you opportunities to monetize your time on social media.
00:02:40
Speaker
So that's the gap, like you said, what's whole refilling. It's the time that people, let me ask you this question. What are you feeling? Do you use, by the way, do you use social media?
00:02:54
Speaker
social media, but I'd say I'm probably not the typical consumer of social media. I use mostly Reddit, Twitter, and Discord. I use some YouTube. I do use YouTube, but I watch mostly long-form content, probably not that much short-form content. Yeah. But when you... I'm pretty sure on one of those apps, so sometimes you went through Instagram, ReelSower. Have you... What I feel, I'll just speak about myself, I feel that I've wasted my time.
00:03:25
Speaker
Right. Sometimes you're closing a social media app. It doesn't need to be exactly short video. And it feels like, ah, I just feeling like this waste of the time. So we want to change this. We want you, everybody will be able to monetize despite the numbers of subscribers, because there is also a huge problem in the market that like,
00:03:46
Speaker
you know, big companies, accumulates huge amounts of money with influencers as well. Maybe there's some portion that influencers as well earns, but not ordinary users. So, you know, with the feeling of wasted time, they're not monetizing anything. So our mission is to provide everybody opportunity to monetize their social media time, despite the numbers of subscribers. You can be a content creator or you can be just a user.
00:04:17
Speaker
Right. Okay. And that's a very good point and very good distinction to make, right? Because I think the, despite the number of followers is a very important point there. If you look at applications like Twitter, right? They've recently rolled out this monetization structure, but Twitter is known for having this kind of like,
00:04:38
Speaker
kings and homeless basically kind of approach to monetization. Everyone either has a whole lot of followers or no followers at all. And obviously the people with very few followers, they're not going to have access to that monetization platform. So yeah, that's a good approach.
00:04:55
Speaker
And it's great, you know, you just brought it up, the Twitter, because I always give source example, right?
Chile's Financial and Reward Model
00:05:01
Speaker
Just let think this way. That's why, you know, we're kind of moving into that, why we wanted to give her better monetization. So imagine, right, social media platform, there's a why, where are they getting money to pay to the users, to content creators? So right now, Twitter, Instagram, and TikTok is paying to the content creators. Where are they getting money from?
00:05:24
Speaker
advertisers. Why advertisers give money to social media platforms for people to have their eyeballs, their attention on their ads. So that means the product, follow me here, is people. It's not really content creators, but nobody is rewarding people.
00:05:48
Speaker
Everybody's rewarding only content creators. So we thought that's unfair and we're like, you know, we have to change this. So that's why we have a financial model that is rewarding content creators and users as well.
00:06:01
Speaker
Okay. Yeah, no, I mean, absolutely. I think most platforms just mine and mine and mine data and yeah, people don't really see anything out of it. I mean, you could argue that the platform, the service itself is the product that you're getting for selling your data. But yeah, that could definitely be a lot of things to be optimized in that kind of interaction, right?
00:06:26
Speaker
Um, so how does it, how does it work? Let's say, actually, and we were just doing this exercise beforehand, so I'm a brand new Chile user right now. I've got, I've got the app. Um, right. I'm on the app. You have to follow me. Maybe I'll be famous at some point in the app. Only, only if you follow me back. Oh, okay. It's like this. So, you know, early, early times on Instagram, for me and now falling back. Exactly. Yeah. A hundred percent. Oh my gosh.
00:06:56
Speaker
It was wild times. Every time a new platform starts, everyone just goes a bit nuts over it at first. I remember the early times of Instagram, the early times of Facebook too. It was wild times. I see that the application is very sleek and smooth and very simple to use, which I like. It's very close to TikTok.
00:07:16
Speaker
Yes. And I will tell you this was on purpose. That was on purpose. Like we are also, you know, we will add the way of web3 platform and, you know, we would build it with very, no, web2 platform, but we build it on a few technologies of web3 because that's only the way we're getting, we're being able to reward people.
00:07:33
Speaker
we have to reward people in tokens otherwise we will have to get compliant with local currency in every country and it's going to be impossible to do that model so yes we have social media but we do have utilize some like blockchain technologies so for people to there's a first of all there's a learning curve of a tree to learn.
00:07:52
Speaker
Right, there's like opening a wallet which is super simple and you will see now you see a little bit older version like if you guys have Android Downloaded you will like send a screenshot to do the host and you will see it It's a two different versions because Android updating a little faster Like we already simplified a lot of on boardings and like creation of wallet. You don't have to do like a seeds for us they
00:08:13
Speaker
So it's very, very simple for web to user. And if you do something like this, there's leads to mass adoption, you don't want to change interface. You don't want to change everything. You want it to be as familiar as you can.
00:08:30
Speaker
So then people are, it's an easy learning curve and they're pretty much no learning curve or no learning curve. So that's why it's very similar to TikTok. It's very similar to TikTok. You just mentioned that. It is, but I mean, it has the two tabs, like you've got the following and for you tabs, which is exactly also what TikTok gives you. But then you have a few other bits that I think on most applications you wouldn't see. So you have the NFT tab right in the middle.
00:08:56
Speaker
It's called earn in Android because some people will listen to it. It's in the middle. Yeah, it's called earn. That's, that's the was like, you know, moving apart from web three to like more of a web two, um, onboard like a simplification of user flow. Yeah. So now it's called earn. Okay. So let's get a bit into like the web three functionality of it. Obviously you have the wallet, right? You can create a wallet or import a wallet.
00:09:19
Speaker
Yeah, you can create a wallet and you don't do you have already assigned optimatically with the wallet. That's where the tokens will land. And you have options to create, you know, external wallet where I think seedless wallet seed phrase is like a password for your wallet.
00:09:36
Speaker
It will be released in about a couple of weeks. I don't know when the interview will be launched, but it's going to be soon. Maybe when you're watching it, you will already have the seedless. So you won't even need to take care of it. We use like MPC technologies and it's just going to be seedless. So we're not the one who's going to hold it, but it's going to be easier to restore it if you ever lose it. So you don't have to worry about losing it.
00:09:58
Speaker
So that is the wallet portion. And that's where the tokens land when you're watching content.
NFTs and Gamification in Chile
00:10:04
Speaker
Once you land on the platform, you will get a few different, like a few tokens. We can't just pay everybody that is landing on the platform because otherwise we will have to be on this scheme to make sure that it happens. Once you land on the platform, you get a few tokens. You're getting familiar with the gamification.
00:10:25
Speaker
And that's the gamification, it's the NFT part. So you will go and if you choose to do so, you don't have to do anything, but surely go and buy an NFT. The price of it, it's a digital glasses. It's not physical, it's a digital, it's just in the form of NFT. It's just a gamification process. You're buying NFT and the price is $10, $50 of like $461, I think.
00:10:51
Speaker
So it's very... Why 261? I think that's a 469 or 1. There's just some fees that have been calculating into this price. So yeah, and then it's like a 10, 11 or like 50 something. And so that's the affordable price for the Asia markets, for other markets that we did a little lower tier and a little higher tier.
00:11:12
Speaker
with the 400 tier one. And once you buy NFT, that's the gamification process starting. You know, you're starting earning more and that's, it's in between like X, you think the maximum person that earned amount of token was X 3.6. Okay.
00:11:32
Speaker
So I got $50 NFT. What does that refer to? 3.6? Is that similar? No, the price of the token. That's the price of the NFT. That's what I was going. So the price of NFT, let's say $50. I got this $50 one, right? I just got, I think, x points like 2.1, something. My NFT just like finished. So every NFT have a lifetime. So then you have a lifetime and it depends on how much you're watching it.
00:12:00
Speaker
content and how much, how many hours you spend, how many minutes you spend a day on this. And yeah, your endurance is called endurance as I could goes down. And so when NFT it's over, like that's where you can kind of calculate it, but it depends to the price of NFT. So if you have a $10 one, right? Let's say X2 you will earn $10.
00:12:22
Speaker
you will get 10 and you will earn 10. So that will be X2. If it's $400, then you will earn $460. I'm not promising you guys gonna do the exact amount of it. It fluctuates, depends on the what you're doing and how you're doing it. As much as the instructions we give, it's all on the website. It's chile.io.
00:12:47
Speaker
And there we explain exactly what to do, how to do, for you to be able to earn as much as possible. But you have to go and do some research on that. Yeah, no, of course. So that's obviously dependent on the price of the token, right? And that's where we get the token price, the NFT price. The token price is always stable. The lead token, it's like $2.6.
00:13:12
Speaker
That is stable token. It's yeah, it's stabilized. You can go to a coin market cup and you see a lead token. It's a love earn, you know, token. So the price is always between like 2.6, 2.65. So it's kind of keeping it as stable as possible. So the rewards, you can expect the X, you know, X1.5, like X2. So it's between that. So yeah.
00:13:40
Speaker
So that's why, but the token price can change a little bit. Just like a little sense, yeah. So how do you guys manage this peg? How do you manage to keep this token stable? So 100% of the sales of NFT goes to, as we call it, Stability Fund. And in the future, 70% from advertisement revenue will go to Stability Fund.
00:14:02
Speaker
So every, you know, we call it in-app purchases, right? The NFT, it's in-app purchase. It's something you bought from our own marketplace. And on the instability fund, there's three things that it goes to. It's a creation, content creators reward, it's the user reward, and it's the stability of a token. It's the support of a price of token. So it's always, you know, goes around and just stabilize itself.
00:14:30
Speaker
Okay, so it uses what like three pools and these three pools are just stabilizing themselves in a way.
00:14:36
Speaker
Okay. And that's your utility token, but you also have a governance token, right? You do. Yes, you did your work on the whitetaper. I can hear that.
Governance and AI in Chile
00:14:47
Speaker
Enough. I mean, I like to just get down into these things, right? I enjoy to unwrap the ecosystem around the project. I think it's really fascinating to kind of dig in with. I love it. You know when I was supposed to building, I've read like 30 whitetapers in a couple of days. It was so interesting. I've learned
00:15:03
Speaker
It's like how the ecosystem works and the ideas of how people managing to, for them to work. It's so interesting. Oh yeah. If you find a project, go read white paper.
00:15:12
Speaker
For sure, for sure. It's just really good. It's really good education and it's really good to figure out what people are doing with the technology. So your governance token, I was curious to see what applications you have for this governance token and do you have a DAO or is there a DAO involved at any point?
00:15:37
Speaker
Do the general public have any kind of input into the vision or the products that you guys will be developing in the future?
00:15:46
Speaker
Yes, yes, absolutely. So with, you know, there's a chill token and there's a lead token, right? So the lead token you can, you know, you're getting for viewing a feed, getting donations from users, like you can also will be able to get donations from other users receiving boxes. That's the gamification process where it's like pops out when you're watching a feed, you get like a box, that's where you collect them. There is a digital glasses upgrade, there is a minting on like charging them and again, spending on donations with a chill token.
00:16:15
Speaker
You will be able to also later on getting for viewing a feed, but also upgrading digital glasses.
00:16:23
Speaker
And also buying ads through an ad account. We're releasing our ads manager just like, you know, once we get a good amount of user in terms of launching ads in the regions, we will roll out that feature. But it's ready. And then, yeah, winning rewards for like best content creators, you can earn that governance token. And with the governance token, you will be able to, yes, to also vote later on what features to roll out faster and other things.
00:16:52
Speaker
there will be some involvement in the inter-participation of building as well. Okay. No, that's very interesting. I do like to kind of understand the decentralized dynamics that kind of work within an organization and to see if there's like, what are the things that make this governance token have some kind of utility for the general public? So that's interesting. So people are going to be able to use them for advertising. That's really interesting to me as a, well, I have a,
00:17:22
Speaker
cut a marketing brain. I've used Facebook ads and Instagram ads and TikTok ads. I've done a lot of ads work on all these social media platforms. And I think I generally think it's an interesting thing to take income
00:17:40
Speaker
earned by viewing stuff and then use that to promote your own content on the platform. But that also, I think, raises an interesting kind of challenge that you guys may have to deal with at some point is obviously people exploiting this feature because technically, what's there to stop me or other people to create some kind of bot that all just swipes away? Oh, that's people.
00:18:09
Speaker
No, we have a fraud department. You will be blocked right away. So guys, if you will want to cheat system, right? You will be blocked pretty fast. We have our own AI team that build a lot of algorithms as well. Our speed, that's very smart. It's growing and learning every day. And the more we view, the more you actually mark some content not interested to you, the more it's going to learn.
00:18:34
Speaker
And yeah, we use like, you know, behavior that could be your user behavior of the account, right? And see what you usually do. And if at some point you will just scroll through things, it's very, it's very simple to figure it out. Like, I mean, we do block accounts and to unblock yourself. Yeah, you will have to figure it out, fill it out to form. And that's where, you know,
00:18:57
Speaker
you will know if you're real or not. But if there is a bot or that's going to scroll through, it's really hard to program it in the way that we want to see that is a bot. Yeah, but I highly recommend not to try that. That's it. That's it, right? Yeah, don't get banned, guys.
00:19:21
Speaker
Don't get banned. Yeah, don't get banned. Don't do bots or like don't try to cheat system. Just use the app, you know, enjoy the content and started building audience. I always say, look, there's it's been like a seven to 10 years that every new social media app will come out and people will get on it. Like because there's some new technologies, some good ideas will pop, you know, everybody's get kind of tired already.
00:19:43
Speaker
The Instagram then it's to talking through before that was Facebook, you know And it will kind of die with the people that the adrenal rational, you know, it's always it's like they've always decayed So there hasn't been anything come out in a late in the last seven, you know years though I believe that the web tree technologies and You know democratization of the wealth as well. It's it's a huge huge purpose
00:20:13
Speaker
us JNZs to care about it and people getting smarter. They notice that they're utilizing the data and nobody is rewarding them back for it. So people is getting smarter and they want it to be rewarded for the whole time. The attention is the most expensive resource we have. So once the new platform now came out and it's going to be chilly, our plan is to get billion users in four years.
00:20:42
Speaker
So with that said, start building evidence.
00:20:46
Speaker
Just be smarter. If you wanted to become famous somewhere, starting on platforms that are growing fast,
Scaling and Integrating Education
00:20:53
Speaker
that are potentially good, start building audience now because then later on you will be rewarded and it will be easier for you because you will already have audience. Do you remember TikTok people will pop out and start building audiences and now they're huge. Now they're making lots of money. There's a little bit of money they made through TikTok, but they do money through collaborations with brands. So the more traffic you have,
00:21:16
Speaker
If you're a content creator, the better for you and the more prices, you know, the prices for your services are bigger. So start building out and start putting out exclusive content. People will watch it only there, you know, not scroll through if there is some video that somebody put it from TikTok to Italy, right?
00:21:34
Speaker
People will scroll it faster through so people are not going to watch your video because they might have seen it already somewhere. So start putting more exclusive content and that's how you will get lots of views and a lot of audience.
00:21:47
Speaker
So definitely people are getting smarter. I think they're also getting more and more addicted to their phones and to social media. And I just wonder what kind of influence your application might have on the general public.
00:22:04
Speaker
when not only do you get the enderfin hit every time you scroll, you get that little dopamine hit, and that's what's getting people addicted. But on top of that, you also know that you're getting a little bit of this token every time you scroll. I think it's a great thing. I think it may get people even more addicted to infinite scrolling, basically.
00:22:29
Speaker
Well, so we have incentive in our company, our founders, and that's why I joined myself. I deeply care about education and we have a plan where we are integrating more educational features, some components. I won't be able to share what is it. It's not in the next year, but it will be happening later on.
00:22:58
Speaker
I do care personally a lot about improving education in the world. And I believe there's only two things that people use every day.
00:23:08
Speaker
is social media or financial applications. So through only two those things, you can get to as many people as possible. And as you get as many people as possible and you have a good incentives in your heart, that's where you can start shifting the madness and addictiveness of social media to something that is more meaningful.
00:23:34
Speaker
So, but the first step is to get the audience and then, you know, incorporating the more educational content on the platform. And that's as well, you know, one of our mission.
00:23:44
Speaker
So yeah, I understand what you're saying here because it is a lot, but it's also good to be addicted if you get paid. You know, if you do what you love to do, why not? Yeah, yeah. It's easy to get addicted to these things, for sure it is. I think it's good that you have a focus on education.
00:24:07
Speaker
I'd much rather have people scroll for hours and kind of educate themselves than just scroll and just watch silly trending videos or whatever you know. And again, I'm not judging anyone who does that. If you're one of these people, that's totally fine. That's totally cool. I just think there's arguably more productive ways of going about
00:24:28
Speaker
your day rather than, I know people, we used to have this colleague at work, she would not sleep because of TikTok, right? Like she'd scroll all over until three in the morning and she wouldn't even realize that it's 3 a.m. and she keeps on scrolling. So yeah, there's definitely some of that going on.
00:24:53
Speaker
Yeah, you guys, if you care about education as well, like you can find me on Twitter. I'm like, you know, Victoria. I think we will have a link. It's like a VIC miracle. It's V-I-K miracle.
Community Feedback and Tech Choices
00:25:04
Speaker
Just text me, like DM me any ideas of the future's how we can incorporate that better. So if you are under a comment on whatever you're watching or hearing this interview, just send the message to host, you know, it's just always good to get this feedback and we open
00:25:22
Speaker
like future suggestions or any good ideas from maybe people that are working in these industries and we're working closely with each aspect of our app with the experts on that. And yeah, please send your ideas as well on how we can make this world better with social media. Because social media is not going anywhere, so it's better to make better social media than fight against the social media.
00:25:48
Speaker
That's a very good point. Yeah. And a good opportunity for people to kind of have their input in some kind of platform rather than just use Instagram or TikTok and just be at the mercy of the algorithm. And they took it back even more each year. Yeah. What was I going to say?
00:26:10
Speaker
I was just going to go back for a second towards the tech stack that you guys have built this on. It's on Binance Smart Chain. That means it's low fees, it's scalable, arguably have support from the Binance team, which
00:26:29
Speaker
I guess you could argue, well, it's not such a decentralized chain like others, but you do have the support. So I think it's a good choice from that perspective. Is this why you guys chose Binance Smart Chain or do you have other reason for that? So two years ago when we started building a stack of the Web 3, because I think not many people, I don't think we speak about a lot, but our team has built before social media app.
00:26:57
Speaker
And it was another country and just in one language. And we understood that that's where the founders, they're like, wow, the ceiling is so low that it's only one language. So they thought, OK, we have to make this. And they had this idea of rewarding people for the time. They're like, we have to make this worldwide.
00:27:18
Speaker
And that's when we took a little bit of stock from that. It's a smart feed and everything because we built it already that and added the Web 3 component to it. And at this moment, almost two years ago, there was madness going on in crypto that I'm by you guys, but I worked career-wise in crypto almost over two years, almost three.
00:27:40
Speaker
And it's been... Two or three years ago, it was absolutely wild. It was such a wild time. Yes. So in that time when there was so much noise and there was so many layer 2s, layer, I don't know, 10s, you know, coming up to market, the problem was they have lots of money like Harmony Chain. They have $400 million fund. I don't even know where they are now. Like it's just disappeared. So there was a lot of these companies that will disappear.
00:28:06
Speaker
Yeah, Harmony had some issues in 2021. I think there was a massive hack. There was like a Harmony bridge hack. It was a huge hack. I think they've lost like, I don't want to say like the wrong number, but I think they lost somewhere between like 50 to a hundred million dollars. Exactly. So a lot of chains just disappeared after that. And that's why I think we made a good choice in terms of that we need a chain that is fast and cheap and not going anywhere.
00:28:36
Speaker
That was this chain, the beam beam. Do we want to move to somewhere more decentralized? I actually was speaking with our technical people last week. I'm like, it would be nice to move somewhere where it's more decentralized. And they're like, yeah, let's consider it. Let's think about it. Because in a tech stock, it's not as simple as it could sound. There's things that we've built that we've built marketplace and wallet that is
00:29:01
Speaker
depending on it. So we want to make sure that we're using the resources of investors correctly, not just spending time on redoing things for not, you know, need to redoing things. So yeah, but yeah, we do think about it. And I agree, Binance is not us decentralized, but it's not going anywhere. And it's going to keep working. And you can, you know, always
00:29:23
Speaker
You know, decentralize it more if you really want to with the Binance. Yeah. I mean, that's, that's one of the appeals, right? Like Binance is the biggest organization in crypto. Their chain is definitely not going anywhere for the time being. Um, so from, from that perspective, like thinking forward, I think it's a good choice. Um, do you, are you guys able at all? Like if there is some issue with, with an NFT or any web three issue is Binance able to support with the chain, like with like on-chain, I don't know, tech support, I guess.
00:29:53
Speaker
I don't know the answer on this question because I'm not in the tech team. I think our team, it's brilliant. Our CPO, Yuri Cardona, he was running hackathons before in Russia and other countries, Brazil, I think it's like other... And we do have an amazing strong technical team. I don't know how much support they do need it, how much support they don't need it. And I don't know if the problem comes up. I'm not in a daily routine of a technical team, so I wouldn't be able to answer correctly. But
00:30:23
Speaker
We do have a strong technical team, as we do have access to a lot of great, great developers.
00:30:30
Speaker
Yeah, yeah. Well, I'm guessing there is some, that's one of the appeals, I guess, of the Binance chain is that if something happens, you always have someone to be like, hey, there's an issue here. Can we get some support, right? You wouldn't be able to do that on Ethereum or on other chains. So it's, you know, it's the old problem of being decentralized versus having the support associated with the centralized chain, right?
00:30:55
Speaker
And there's different approaches that suit different people. Like some people prefer, well, I want to have it decentralized. I want to be in full control. But then there's also the possibility that if you lose your seed phrase, then it's game over for your wallet. There's no one there able to help you recover it, right? So there's advantages and disadvantages on both sides, I guess, from that technology. There's technologies that it's building now, right? That is allowing you like MPC, you know, it's a multi, you know, power competition and
00:31:25
Speaker
It's like there are technologies that are growing and that's why I feel like it's safe to be right now Like you're a little bit more centralized and once we have technology like ready and go and everybody used it and you know, it's awesome It's working on the centralized side and we don't need a support then it's like awesome to use as much as the centralization as possible but I don't know if everything has to be decentralized and
00:31:49
Speaker
Like AI, I will be scared. I will be really scared if AI can get decentralized guys.
AI Regulation and Future Technologies
00:31:55
Speaker
Like there's just things in life that it stays better in centralization. Like the data and not the data, you're, you know, some of the information, like sometimes it's better because then you can erase it, delete it and.
00:32:09
Speaker
Yeah, the AI point is really good because on one side, you have OpenAI and you have Google's AI and you have all these companies just creating new AIs and they're lobbying for regulation. They're trying to create a similar government body like you have the FDA, but for AI, so a regulating body that will regulate AI.
00:32:32
Speaker
That means that open source AI might not exist because if it's now regulated, you know, a lot of open source code out there will no longer be, you know, legal. So that creates again, another interesting choice like are you going to have this regulated so that it's safe?
00:32:53
Speaker
but centralized, so only a few players are able to ever provide this kind of service to everyone. Or are you going to keep it decentralized, you know, at the risk of, I guess, this new Skynet and everyone just getting killed by AI? Thank you. Really a good future we're going to.
00:33:14
Speaker
Um, well, it's yeah, it's, I think it's just, um, I do like decentralization and I like open source software, you know, so part of me wants to kind of promote this idea of, no, no, no AI should be for everyone. AI should be, you know, everyone should have access to AI, but also I recognize the risks of everyone getting access to AI. Yeah. Yeah.
00:33:39
Speaker
I agree. I agree. No, for sure. AI is awesome. We do have an AI department, you know, as well. And we're building like text to video tools and other things that it could be interesting, but also thinking about on the back, I know how we're going to regulate that. So it's important, but it's cool. It's cool to have like Alexa AI editing tools.
00:33:58
Speaker
You know, when the avatar came through and you created all these avatars, it got like crazy. Amazing. When you take a picture of you and then you go... When it creates like portraits, you add this headshot and it creates like portraits. So everybody now have this AI avatars that is like... I like it. I like it. I think it's fun.
00:34:18
Speaker
Yeah, those are cool. And I think those are not yet the dangerous, more dangerous applications of AI. I think I like kind of like the nice safe ones for now. I think we're still like, for the time being, we're quite safe for now. I don't think there's any AI dangers, you know, which is great because a lot of companies are incorporating AI into their applications. Like you mentioned with you guys, with Chile, right?
00:34:41
Speaker
I think in your white paper, you had on your roadmap, what you just mentioned, actually the text to video bit. And I thought that's really interesting. And I was going to ask you about that and what exactly you guys mean by that.
00:34:54
Speaker
I mean, they're building it. It's not rolled out. I don't know how to answer on this question, honestly, because, I mean, we will roll out at some point, but it's a work in progress. And I think if I even answer now, it will change. It might change. I don't want to mislead people to the wrong futures. Yeah, but we do working on AI futures. And that's what I can say. It's text-to-video.
00:35:24
Speaker
And then we're looking for some good editing tools. So if you guys like building AI editing tools, like reach out to us, we're looking to integrate with the best companies that just working purely on this. So it could be amazing instead of just, you know, making it fast ourselves and deploying some. Yeah.
00:35:40
Speaker
Right. It seems like you guys are a very forward thinking kind of progressive company with your web, with Web3, with AI and all that. And it's, I think it's the first, one of the first times that I see this package in a mobile application.
User Growth and Market Strategy
00:35:55
Speaker
I've seen some decentralized video sharing websites before. So I don't know if you're familiar with.
00:36:03
Speaker
contentos, that's their web and it's kind of like YouTube, but decentralized. They also have a lot of gamification kind of mechanics into play. So a similar concept with with chili is that you watch videos and you get tokens
00:36:22
Speaker
for watching these videos. They also have different kinds of tokens and you can, I guess you can cash them out. I've never really tried. I just like upload. That's what I'm saying. You don't even try when you know about them. It's kind of weird. It's like you wanted to have something that people will try right away.
00:36:38
Speaker
And it's easy and it's familiar. That's what I'm saying. Like innovation is good in here, but it's really hard to move millions, millions, tons of millions, hundreds of millions of people to something that is like purely super new. So. Yeah. It's the distinction right between an application that is okay versus an application that is excellent and works incredibly well because
00:37:02
Speaker
All these, I think about one and a half years ago, my YouTube channel got demonetized for absolutely no reason at all. It was completely within the guidelines and everything, and I tried to reach out to Google and all that. I got nothing, no reply in return.
00:37:20
Speaker
So I started looking into decentralized video sharing applications where this kind of error can happen. That's why I came across Contentos. I came across Odyssey. So that's O-D-Y-S-E-E dot com, I think. And they're also decentralized. So they're kind of like YouTube, but decentralized. But Contentos is very junky. It has a lot of things that I don't really like the way they look or the way they work.
00:37:46
Speaker
I could use it myself because I like to explore these kind of new and upcoming technologies. And I understand that sometimes you're going to have something that just doesn't look or work perfect. Um, but I think the general population or, you know, to, to have like proper mass mainstream adoption, that won't work as well. You need like a really nice, really streamlined, really simple application. Yep. I agree. You gotta be familiar. And then, and then you can add the older craziness. Yeah.
00:38:14
Speaker
Once you already have the people. Yeah, exactly. Yeah. So how many users do you guys have right now? Yes. Our user base, you know, it's so interesting. Let me just update you with the, like, literally the latest one, the metrics. I'm getting insider information right now. Yes. I wanted to look at it today myself and I have an open document because it's still super early morning for me. Let me see. So for the downloads we have, wow, we almost at a million downloads.
00:38:41
Speaker
with 986,000 and we have a signups, like the users, it's 880,788. And then, yeah, that's how many users we have. Wow. That's impressive. In how long a time? How long did it guys take you? Five months. In five months. Wow. That's impressive. That is a very good number for five months of being live. How did you guys get to this growth?
00:39:10
Speaker
And we also have done over 1.5 million in revenue now. Oh, wow. Yeah. With the, with the NFT, right? Part of it. So people, you know, getting rewarded for sure, because that's a hundred percent goes back to people for now. And the advertisement that we only take profit from advertising, advertisement, but also some fees, but it's very little, right? It's not really comfortable much.
00:39:34
Speaker
Yeah, yeah. So how did you guys manage to scale up to 800,000 people within five months? We haven't done much marketing yet. We'll tell you in a secret, we haven't. So we are starting launching actually as a country in Kazakhstan. And we chose this country for a reason because there's 19 million of people. That's where you're incorporated. No, we incorporated in Singapore. Oh, I see.
00:40:02
Speaker
But we are launching there. That's what I'm going to. It's 90 million people. 57% in this country use TikTok. 57%. Wow.
00:40:13
Speaker
So imagine the ratio, like you as a marketer, you counted right away. It's the, imagine the ratio of the people that your ideal customer in the one location. Yeah, that's a great market. So we're launching there. And then yes, if you guys from Kazakhstan, you will not be able not to hear about us in this country. So that's where we're going to test all the high purchases that we have all for the marketing side that we've tested before, you know, we do, we did a little bit of influencer marketing.
00:40:40
Speaker
Just not much, you know, in each country, maybe one, two, three, we just test it out. So that's how we've been growing. But yeah, later on you will see us in Kazakhstan and then we definitely will come to your country at some point. Yeah, in a city near you. Yeah, in a city near you, you find us.
00:41:01
Speaker
That's cool. Yeah, no, that's impressive because I was actually talking to my previous guest or a previous episode about the challenges of marketing a crypto company because you can't use your regular channels, right? You can't use Facebook. You can't use Google ads. You can't use any kind of publisher ads. You have to go outside of this normal marketing channel.
00:41:28
Speaker
Yeah. And I think influencer marketing, because we are for influencers as well. And then it makes sense for us to use influencer marketing, because then it's a win for both. They're winning first, right? And then we're winning first with them bringing more platform users, and then they start winning with earning later on, we'll be earning money for the content creation as well. So yeah, and if they want to be watching and earning money, they can do that too.
00:41:56
Speaker
Yeah. Are there any famous people on your platform for now? I'm sure there are a bunch of them. I'm just not, I'm watching videos, but I don't usually read names of influencers. So I wouldn't be able to say that we have an all influencer department. And if I meet influencer on the marketing agency, I'll just forward it to them and then they'll figure it out. Right. So what are some of the cool things that you guys have lined up on your roadmap in the future?
Feature Expansion and User Engagement
00:42:27
Speaker
With like with the AI and that's our roadmap. And then other features that you have, I'm just thinking, I'm trying to look at my document, but I don't have it. It's a donation. So it's a live streams, then you will have a lot, you can do go live stream and then you can also do donations from users. So then, you know, once you earn a little bit of tokens, you can always donate them to other content creators or other users.
00:42:54
Speaker
And what else was happening? That's what the major ones that I'm waiting for, because I think that will bring a lot of good influencers on board, as well as some e-commerce, like a live shopping, but some of those as well, that it will go well with the live streams.
00:43:13
Speaker
Nice, so you've mentioned before that you would encourage people to create original content on the application rather than cross posts from TikTok or Shorts or whatever. What are some of the unique kind of application, what did I want to say? What are some of the unique video styles that are on Chile that are not on any other platform? Because you know how on Shorts
00:43:43
Speaker
videos are a bit more professional and on TikTok, they're a bit less professional. Is there a vibe that Chile has in terms of the shorts that people produce? I'm sure it will get some vibe. I think vibe is always kind of being created more organically, maybe. I don't know. It might be, you know, you set a tone, but I don't think there is a particular vibe at this moment.
00:44:08
Speaker
But with the more educational content on board, I think that's the wide where we're going to move into. I might move bits of my podcast onto onto Chile just to see how it performs. You know, for sure. Do some shorts and reels on like, you know, maybe a minute long with like a good, good chunk of information that is educational and nice. That is interesting to hear it. I'm always promoting the more and more educational content, the better. Yeah, that's very nice. That's very nice. And more time on Chile.
00:44:38
Speaker
I spending already a lot of time, but then I will be actually like sitting down, you know, and looking something. Yeah, that's what I've been promoting. It's like, let's do like educational tabs so then people can just watch the educational content because it's pretty fun. But we'll see, right? I'm not the one person that will decide that it's a teamwork. Right. But you all kind of get input into the application, the build, the user experience and all that.
00:45:01
Speaker
Yeah, as much as the users do, you know, we, we ask a lot users on their feedback and we're listening to what people want instead of just what, what we want to build. And we're building, you know, what, what they want to use because it's a, your application, right? We're building it for people, for you.
00:45:19
Speaker
It's a very nice way of putting it because you're obviously the chief communications officer. I do a lot of business development as well as with the communications.
00:45:34
Speaker
Is that because it's also like chief communications officer is kind of the same as chief marketing officer, interchangeable? It's a little different though, communications is more marketing, chief marketing officer could also play a role of communications. Communications is more of like doing podcasts, interviews, that's why I'm here with you. It's going out, it's being on the conferences, doing public speaking from the face, you know, it's kind of a face of the company that will, you will need a lot of
00:46:00
Speaker
a lot of times as much as like other people right in the company you might not meet at the conferences like I'm the one who's definitely if you if our presence at the conference most of the times I'll be there and yeah sharing more about us
00:46:15
Speaker
You're always traveling, going places and talking to people. I think that's pretty nice. Do you guys plan to be part of any big crypto or NFT conferences in the future? We just was in Singapore. It's not clarified yet for now, but we were just at Singapore talking in 2049. We had the booth and we hosted events.
00:46:37
Speaker
That's where we had like, we decided to start. And yeah, we will see you later on where we'll make more sense as much as also our audience, where we'll be more located in Europe. And yeah, but for now, we are not anywhere at this moment for now, probably the October, November, and we will start to get more presence later on in the next year.
00:47:01
Speaker
That's exciting stuff. I'm glad to hear that. Yeah. It's exciting always to travel, but yeah, it's always exciting to meet people that can give you feedback. They're like finding you, you know, oh, like I will install with somebody up in the May and they're like in September will find me on Singapore and talk and they're like, Hey, I bought this and I use this and it worked so fun. And like, I've done this, I shared with a friend. It's so good to hear this feedback and also from builders in the industry, not only users, which is, which is nice. It's always good, good brainstorming happening there.
00:47:33
Speaker
Yeah, I love it. Are you traveling a lot for any conferences yourself? You had this the Zebulife in London.
00:47:40
Speaker
Well, that's the thing. There's a lot of things happening around London locally. So I haven't traveled too much at the moment for the time being. But we're also planning to kind of go and pop up at some of the big crypto and web3 conferences in Portugal, France, and a few other places. So we do have some things hopefully lined up for next year as well.
00:48:09
Speaker
So we'll see how that will go. So we're on our kind of our businesses a little bit, I'd say a little bit different. Well, different than what you guys are doing with the NFTs and crypto where we're like building this
00:48:26
Speaker
Well, we've built it, the cryptocurrency algorithmic trading platform. It's still a lot about education, so it's about educating people about algorithmic trading and how to use it responsibly. I was just curious to ask, what is the algorithmic trading? Because when I trade, I say to myself, do not ever go back to trading our account.
00:48:52
Speaker
I was not perfect at it, not good. What is the algorithm of trading? You know how you could just go on Binance and trade manually, right? Imagine that you have a platform where you create some rules and then you can trade based on these rules on the platform.
00:49:14
Speaker
So let's say that you want to buy Bitcoin every time the price of Bitcoin dips by 3%. And you can create this rule and then this algorithm will just continue to apply this rule automatically. So you don't have to trade manually to buy or sell manually. This system will do it for you. And then you can build on top of that and you can create more complex strategies. You can add stop-loss, you can take profit. And we're also working on
00:49:43
Speaker
further expanding our social element. So let's say that I create a strategy and I can share that strategy on a public hub that other people can look at and then they can clone that strategy and then they can run that strategy themselves. That functionality already exists, but we're looking to expand that a bit more to allow people to do some more cool things with this stuff.
00:50:07
Speaker
We're also in crypto. We're a bit more on the financial side of crypto, but we also have a big kind of emphasis on education and making sure that people make the right moves and they're responsible with trading because we, like you've fairly said, it's very easy to be irresponsible in crypto. Yep. So cool. Awesome. I mean, I guess people that will want to do this, it's a good solution.
00:50:34
Speaker
Yeah, yeah, thank you. Do you guys have any challenge, any regulatory challenges right now? Because I know the SEC and everything is just going all over the place knowing that you're, are you guys based in the States?
00:50:49
Speaker
I'm based in the States, myself in Los Angeles. I've been here in Silicon Valley forever. I mean, San Francisco here is just all the time in between. But our team, it's all over. You know, last time I've taken everybody's location and I put it on the map. It was over 55 cities.
00:51:08
Speaker
in a few many countries. I was the one only lonely hero in America. There's a couple of people in the town, a lot of them in Europe, Asia, CIS region, Nina, a little bit. So we're all over. We're just very decentralized.
00:51:25
Speaker
It does sound very decentralized. Yeah. That's really cool. Anything you want to add, any kind of announcements you want to make or any channels you want to shout to get people involved and to get people kind of trying out your environment and your application? Yes. Download the app, get the glasses, even like a $10 glasses, just try it out, see how it works. If you have
00:51:51
Speaker
you know, nieces, kids that are, you know, at that age bracket that you're already using social media, better recommend them Chile, at least they will start earning like a pocket money, which is good. And that's the people that they will get on it anyway. But it's good to, you know, teaching them that their time it's valuable.
00:52:08
Speaker
from, you know, from the young age, not when they already, you know, 20 and after the college. It's, and I think that's once we get more habit of that our time, it's super valuable. Not just saying it, because in theory, we don't really learn, but actually in, in showing it experientially, which is Chile can do, you know, that's where you're, you know, kids, nieces, brothers, sisters will be more successful in life. So if you do one, your family will be more successful.
00:52:37
Speaker
Yes, download Chile and share it with the friends. Sounds good. Well, thank you so much, Victoria. I had a great time. Should we wrap it up? Yes. Thank you so much. And thank you so much for listening. And please come and share this podcast episode. It was forever. You think it will be valuable. And yeah, the more comments, the more feedback, it's always welcome. Thank you. Thank you, Victoria. Thank you, everybody.