After years spent growing the category-defining expertise powering its infrastructure, Sequoia-backed DeSo is hiring Salil Shah, a seasoned govt with expertise at Meta and Pinterest, to scale the enterprise. The announcement comes within the wake of two consecutive months of over 120% Month over Month progress for the platform.
As the one layer-1 blockchain able to powering content-rich social purposes, and with over $200 million in funding from Sequoia, Andreesen Horowitz, Coinbase, CAA, and others, DeSo was already well-positioned for achievement.
Now, with an skilled senior govt like Shah in place, DeSo can speed up its mission to re-imagine the creator economic system and broaden the scope of web3 from solely monetary purposes to creator-focused social purposes and way more.
Shah’s motivation for becoming a member of stems from his perception that DeSo has the potential to remodel the creator economic system. Shah says,
“Empowering and supporting creators is a mission I’m deeply passionate about.” Shah additionally mentions that DeSo has constructed the primary blockchain platform that enables social content material to be saved straight on-chain, giving creators extra possession, the power to interact with followers throughout platforms, and the chance to construct direct monetary relationships with followers.
“I’m excited to join this incredible team and partner with Nader to build the business as the industry moves towards the next phase of the creator internet, powered by web3,” he continues.
Shah joins Nader Al-Naji, the founding father of DeSo, and can complement Nader’s deep technical experience together with his intensive enterprise expertise as a senior govt and enterprise chief.
Leading an Emerging Category
Shah joins because the rising class of “decentralized social” is beginning to present indicators of early progress, with DeSo lately hitting 120% month-over-month progress (following 160% progress the earlier month).
“This growth is being driven by DeSo’s ecosystem of hundreds of third-party apps, which are now starting to find retention,” says Al-Naji. For instance, Diamond and Desofy have earned creators over $20 million of their early days off of novel monetization primitives like social tipping, social NFTs, and social tokens.
Meanwhile, instruments like OpenProsper, a social block explorer, give unparalleled perception into the ecosystem. And different novel apps like Pearl, a web3 Instagram, NFTz, a decentralized NFT market, and DAODAO, a social Kickstarter-like fundraising device, are launching and maturing.
“We’re seeing a flywheel start to form,” says Al-Naji. “Now that we have a seed of users and content, developers are building apps like never before, which grows usage and content even more in a virtuous cycle.”
DeSo was lately listed on Coinbase, and its mission of reimagining the creator economic system has by no means been extra related, with Twitter founder Jack Dorsey lately proclaiming that Twitter needs to be “an open-source protocol,” and the current buy of Twitter by Elon Musk.