What is Lore? Lore is a project in the SocialFi segment built and developed on the Base ecosystem with the goal of bringing users from Web2 to Web3. The project has successfully raised $4M from many large VCs. So where does Lore’s appeal lie? Let’s find out together in the article below.
To understand more about Lore, people can refer to some of the articles below:
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is Social Graph? An Indispensable Piece of SocialFi Platforms
- Why Is It Affirmed That SocialFi Will Follow GameFi’s Steps?
- What is DeSocial? Growth Potential of Decentralized Social Networks
Lore Overview
What is Lore?
Lore is a SocialFi platform built and developed on Base towards the community. On Lore’s platform, communities are formed through the possession of NFTs (in Web2 we also call it Membership). When possessing NFTs, users can participate in community activities such as trading. Translating, creating content,…
Lore serves as a hub to support content creators in forming, coordinating, and growing communities. Some of Lore’s applications include:
- Build paid communities with quality content.
- Call for capital from the community.
- Build a community-oriented project.
To make Lore safe, the platform will use Safe wallet.
Lore’s mechanism of action
Simply put, Lore allows content creators to mint and distribute NFTs to interested parties. Benefits for NFT holders can be:
- Exclusive access to creator content.
- Get early access to new products and services.
- Discounts and some other perks.
- Voting.
Lore will have a number of costs including:
- When NFT Membership is minted, there will be a platform fee. The platform fee will be split between Community and Lore.
- For NFT Memberships that are free or cost less than 0.03108 ETH, the platform fee is 0.000777 ETH, of which 0.000444 ETH goes to the Community and 0.000333 ETH belongs to Lore.
- For NFT Memberships priced higher than 0.03108 ETH, the platform fee will be 5%, of which 50% is for Community and 50% is for Lore.
Development Roadmap
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Investor
- April 6, 2023: Lore successfully raises $4M in Strategic round led by Multicoin Capital.
Core Team
Shelby T.: Co Founder & Head of Product
- Shelby earned her Master of Science – MS, Computer Science from US San Diego and earned her PhD in Philosophy, Computer Science also from US San Diego.
- Shelby worked as an intern at Google and Google X.
- Right after graduating, Shelby had a short time working at Polychain Capital and then from August 2019, Shelby started building Lore as Co Founder & CTO.
Thomas Scaria: Co Founder & CEO
- Thomas earned his BS in Biological Engineering from the University of Southern California.
- After graduating, Thomas worked as an intern at GE Healthcare and GE Capital. After that, Thomas had a long time working with Citi Bank in the investment segment.
- Thomas continues to work as a development team leader at a Crypto Wyre project.
- By January 2020, Thomas joined Polychain Capital and later joined Shelby – a former employee of Polychain Capital to build and develop Lore.
Tokenomics
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Exchanges
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Project Information Channel
Summary
Lore is a quite prominent project in the SocialFi segment and is worth watching in the near future. Hopefully through this article everyone can understand more about what Lore is?
