First Bitcoin Capital Corp, a firm that claims to be focused on investing in Bitcoin-focused startups, and acquiring projects developing Bitcoin-powered applications, has announced the addition of Tipestry, a blockchain-based content monetization platform to its incubation program, reports Yahoo Finance on September 23, 2019.
First Bitcoin Invests in Tipestry
Per sources close to the matter, First Bitcoin Capital Corp. has accepted Tipestry, a cryptocurrency-powered social platform into its startup incubation program which aims to make life easier for crypto-focused businesses and entrepreneurs by providing them with business training, access to mentors, workspaces and more.
Just like the Brave Browser project, Tipestry allows content creators and website owners to get rewarded for their good works in cryptocurrency.
However, unlike Brave which is powered with Basic Attention Tokens (BATs), Tipestry currently supports Bitcoin (BTC), ether, dogecoin and a host of other digital assets.
With Tipestry now added to First Bitcoin’s incubation program, the latter will now have a 6 percent equity stake in the social media platform, plus 1,000,000 Tipcoins in exchange for $350,000 worth of its restricted BITCF stock at the end of the one year program.
David Davies, founder of Tipestry expressed his excitement over the acceptance of the platform into First Bitcoin’s incubation program, adding that the publicly traded firm has always had a strong belief in the potential of Bitcoin long before others firms joined the bandwagon.
“One of the reasons we are excited to work with First Bitcoin is that they recognized the potential of Bitcoin several years before most publicly traded companies, showing visionary leadership and appreciation for the underlying blockchain technology.”
How Tipestry Works
As stated on its website, Tipestry is a web annotation platform that makes it possible for people to leave comments on any website or at any geographical location across the globe. The posts can be viewed via its website, the Tipestry browser add-on or through Tipestry Go, an augmented reality app.
Tipestry’s tipping feature allows users to appreciate the works of others by sending them cryptocurrency.
To tip someone, a user simply needs to click on the “Give Coins Button” next to the specific post they find interesting and choose the type of coin, as well as the amount they want to tip. The digital asset will automatically be added to the person’s account.
Tipcoin (TIPC) is Tipestry’s native altcoin. It’s used to reward active users of the platform and it also allows community members to have a say in the governance of the Tipestry ecosystem and more.