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 in 2011, it is a distributed social networking service that rewards contributors with tokens on the Ethereum blockchain.
|Type of business||Private|
Type of site
|Social network service|
|Headquarters||Wilton, Connecticut, US|
|Key people||Bill Ottman, Founder & CEO|
John Ottman, Co-Founder & Chairman
Mark Harding, Co-Founder & CTO
|Registration||Required to post, follow, or be followed; Anonymous registration allowed|
|Users||1.25+ million registered (August 2018, claimed)|
105,000 (active, March 2018)
3.4.0 (April 25, 2019) [±]
|Operating system||iOS, Android|
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. Other cofounders were Mark Harding, Ian Crossland, and Jack Ottman.
In June 2017, the company raised over $1 million in an equity-crowdfunded sale.
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.
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.
When the network launched its Alpha mobile applications in 2015, the group Anonymous showed initial support for privacy features. Engadget has since expressed concern that other fringe groups could undermine the platform's ability to deliver accurate and curated content.
The social network has attracted criticism for purportedly being a "haven" for neo-Nazis and far-right groups and individuals. In response to the allegations, the site banned several accounts associated with neo-Nazism.
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