Minds

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Minds
Minds logo.svg
Type of businessPrivate
Type of site
Social network service
HeadquartersWilton, Connecticut, US[1]
Key peopleBill Ottman, Founder & CEO
John Ottman, Co-Founder & Chairman
Mark Harding, Co-Founder & CTO
IndustryInternet
Employees11–50
Alexa rankIncrease 9,396 (Jul 2019)[2]
RegistrationRequired to post, follow, or be followed; Anonymous registration allowed
Users1.25+ million registered (August 2018, claimed)[3]
105,000 (active, March 2018)[4]
LaunchedJune 2015
Minds
Stable release
; iOS

3.4.0 (April 27, 2019; 4 months ago (2019-04-27)[5])

Android

3.4.0 (April 25, 2019; 4 months ago (2019-04-25)[6]) [±]

Operating systemiOS, Android
Websitewww.minds.com

Minds is an open source social media and social networking service company that rewards users for their contributions. Founded by Bill Ottman and John Ottman[7] in 2011, it is a distributed social networking service that rewards contributors with tokens on the Ethereum blockchain.[8]

Minds describes itself as a "Crypto Social Network" that upholds internet freedom.[9]

History[edit]

Minds was co-founded in 2011 by Bill Ottman and John Ottman as an alternative to social networks such as Facebook, who they believe abuse digital rights.[4] Other cofounders were Mark Harding, Ian Crossland, and Jack Ottman.

Minds launched to the public in June 2015.[10]

In June 2017, the company raised over $1 million in an equity-crowdfunded sale.[11]

In October 2018, Minds raised $6 million in Series A funding from Medici Ventures, an Overstock.com subsidiary. Patrick M. Byrne, founder and CEO of Overstock.com, will join Minds’ board of directors.[12]

Features[edit]

Users can use tokens to advertise their content across the social network. Minds states that the boost system is designed to be "anti-surveillance" and has "organic reach". The price of one-thousand views is the price of one token on the network.[13]

Minds offers a premium subscription for 5 tokens per month that gives users access to exclusive content, the ability to become verified, and to "banish all the boosted posts" from their feed.[14]

Reception[edit]

Minds has been featured by Business Insider and VentureBeat, claiming to provide more "organic" results than Facebook.[15]

When the network launched its Alpha mobile applications in 2015, the group Anonymous showed initial support for privacy features.[16][17] Engadget has since expressed concern that other fringe groups could undermine the platform's ability to deliver accurate and curated content.[18]

Observer, Barron's, and Breitbart discussed the network's dedication to free speech and community-participation.[19][20]

The social network has attracted criticism for purportedly being a "haven" for neo-Nazis and far-right groups and individuals.[21][22] In response to the allegations, the site banned several accounts associated with white nationalism.[21]

References[edit]

  1. ^ "Company Overview of Minds, Inc". www.bloomberg.com. Retrieved January 29, 2019.
  2. ^ "Minds.com Site Info". Alexa Internet. Retrieved August 21, 2017.
  3. ^ "Overview-6thAugust2018.pdf" (PDF). Archived from the original (PDF) on August 11, 2018.
  4. ^ a b "Minds aims to decentralize the social network". TechCrunch. Retrieved January 31, 2019.
  5. ^ "Apple on the App Store". iTunes Store. April 27, 2019. Retrieved April 24, 2019.
  6. ^ "Minds". Google Play Store. April 25, 2019. Retrieved April 25, 2019.
  7. ^ https://www.crunchbase.com/organization/minds#section-current-team
  8. ^ Brown, Eileen (July 5, 2018). "Facebook competitor promises blockchain currency for social content creators". ZDNet. Retrieved July 11, 2018.
  9. ^ Cooper, Daniel (April 20, 2018). "I believe in free speech, but Minds makes me queasy". Engadget. Archived from the original on April 20, 2018. Retrieved January 29, 2019.
  10. ^ "Anonymous is building a site to kill Facebook". The Independent. June 17, 2015. Retrieved December 22, 2018.
  11. ^ Lang, Melissa (July 17, 2017). "Done with Facebook, Twitter? User-owned social networks hear you". SF Chronicle. Retrieved April 12, 2018.
  12. ^ Biggs, John (October 27, 2018). "Minds, the blockchain-based social network, grabs a $6M Series A". TechCrunch. Retrieved November 17, 2018.
  13. ^ Sainato, Michael (May 12, 2017). "Meet Facebook's New Open-Sourced, Encrypted Competitor, Minds". Retrieved May 31, 2019.
  14. ^ Matsakis, Louise (April 19, 2018). "Minds is the anti-Facebook that Pays Users for Their Time". Retrieved May 31, 2019.
  15. ^ Levine, Barry (June 15, 2015). "A social network called Minds has an answer to Facebook's strangling of organic posts". VentureBeat. Retrieved April 12, 2018.
  16. ^ Guthrie Weissman, Cale (June 15, 2015). "Anonymous is supporting a new privacy-focused social network that takes aim at Facebook's shady practices". Business Insider. Retrieved April 12, 2018.
  17. ^ Griffin, Andrew (June 15, 2015). "Super-private social network launched to take on Facebook with support of Anonymous". Independent. Retrieved April 12, 2018.
  18. ^ "I believe in free speech, but Minds makes me queasy". Engadget. Retrieved August 28, 2018.
  19. ^ Sainato, Michael (May 12, 2017). "Meet Facebook's New Open-Sourced, Encrypted Competitor, Minds". Observer. Retrieved April 12, 2018.
  20. ^ Swartz, Jon (February 12, 2018). "Facebook Haters Going to Hate – but What Will Investors Do?". Barron's. Retrieved April 12, 2018.
  21. ^ a b Makuch, Ben; Pearson, Jordan (May 28, 2019). "Minds, the 'Anti-Facebook,' Has No Idea What to Do About All the Neo-Nazis". Vice.
  22. ^ Cooper, Daniel (April 20, 2018). "I believe in free speech, but Minds makes me queasy". Engadget.

External links[edit]