Uhive

Idea

Introduction

Current social networks flood users’ feeds with hidden agendas, which is the result of auctioning off their data to the highest bidder. Uhive tackles this problem head on by leveraging its own cryptocurrency - Uhive Token - to create revenue streams that include peer-to-peer transactions and interest-based advertising, as well as the sale of in-app digital assets, so that a user’s privacy is never compromised in the name of profit.

By tying economics to the quality of content on the platform, users on Uhive are constantly incentivized to create great content. Users will soon be able to use tokens to power transactions on the network, or simply exchange them on a cryptocurrency exchange for traditional currency or other digital currencies (coming in 2021).

Our network is built to support millions of users, and boasts the most jaw-dropping features on one social network. They include; an advanced AI and recommendation engine, media streaming, crypto wallet, 3D simulated world (which doubles as a virtual real-estate market for trading spaces), an anonymous ‘Free World’, chat/messenger, peer-to-peer awards, and much more.

Uhive’s unique content-discovery model allows users to choose and fine-tune the content that they see by selecting from 26 different interests. Content creators can use Uhive’s paywall feature to earn, rewarding quality posts with cryptocurrency payments.

Our mission is to create the most sustainable, creative, fun, and transparent social media platform in the world!

Substantial accomplishments to date

🚀 We self-funded the development of Uhive’s mobile app, investing £3.2m since 2018.

🚀 £350,000 generated in 2019 through 2020, when Uhive held a private token sale of Uhive tokens.* 65% of those tokens were spent right back on Uhive to purchase digital assets for users’ profiles.

🚀 182,000 users onboarded.

🚀 5 million posts created by users on Uhive. For comparison, during Twitter’s first year 12 months, its users generated 1.6 million Tweets.

🚀 Entrepreneur magazine, writing for MSN Money, chose Uhive as one of its “Top 5 Startups to Watch in 2020.”

🚀 Over 50 new and updated features added to the Uhive app since beta launch in May 2020.

Monetisation strategy

• Token Sales - 20 billion tokens allocated for sale. Uhive's economy is circular so supply and demand are continuous. Growing an open ecosystem of digital services means the sale of tokens will be a permanent fixture on Uhive. By adding the Uhive Token [HVE] to a tier-1 exchange in 2021, and as our user base expands, the token's value will be derived from the strength of the Uhive community.

• Paywall content - The internet-of-the-future will be dictated by peer-to-peer lifestyle funding through paywalls and gated content. By allowing micropayments (via Uhive tokens) for access to exclusive content, creators will earn from thousands of users, while users will get access to exclusive content. We aim for creators to keep 85% of the revenue generated while the remaining 15% will go to Uhive.

• Selling Digital Assets (spaces, space names, awards, special effects) - Uhive’s in-app marketplace, with only two products, already enabled £211k worth of transactions to take place. By Q3, 2021 we aim for the marketplace to offer hundreds of products.

• Advertising Revenue - Uhive signed a partnership with Outbrain. Ad targeting will be based on interests and previous ad-interaction, not user-behaviour, creating a far less intrusive and linear ad-experience for users and more robust campaigns for advertisers.

Use of proceeds

The funds raised from this campaign will be mainly used to expand our technical team, enhance the app by boosting the existing build with new features like a user paywall setting (allowing users to gate their content and charge other users to access it), and virtual reality (VR) content exploration.

As we prepare for our global launch in Q1 2021, the remaining funds will be mostly directed towards marketing activities to promote Uhive and raise awareness, while on-boarding new users.

Operations – 23%

• Expanding our iOS team – 15%

• Expanding our Android team – 8%

Product – 55%

• Development – 40%

• Cryptocurrency exchange – 10%

• Hosting and software - 5%

Marketing – 21%

• Digital marketing – 13%

• Influencer marketing – 6%

• Other marketing – 2%

Legal – 1%

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.