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The digital era has truly revolutionized the way we interact. If you want to keep up with friends, family, news, hobbies, 0memes and more, then a handful of big social media sites such as Facebook, Instagram and Twitter are your obliged destination. There has been very little competition and most of the other ventures gone offline due to being unable to compete with these giants.
Now, Wikipedia co-founder Jimmy Wales has launched a new Social Media Platform called WT:Social in an attempt to beat Facebook and Twitter. The Social network is a reboot of WikiTribune which was created to let users share articles, it was launched back in February 2017. WT:Social aims to build smaller self-sustaining communities built around niche subjects.
The reason behind the launch of WT:Social, as proclaimed by founder Jimmy Wales is to protect the privacy of users, because Facebook and other big names in the Social media business are alleged to provide users information to several sources. According to Wales, the content in present day Social Media Networks is of very low quality.
The WT:Social is an Ad free Service and runs on a completely differently business model. It will accept donations from the users like Wikipedia but will not allow ads. Wales hopes WT:Social can attract 50 million or even half a billion users and quotes the success of Netflix in attracting people who are willing to pay for "meaningful" content.
Signing up to WT:Social is free but the Social Media Network has established a waiting list, those who want to bypass the waiting list and join the network has to donate. So far only 200 people have paid to skip the waiting list. Wales does not expect his social media network to be profitable, but he wants to make it sustainable to bear all the expenses of running the site.
