Experienced entrepreneurs and long-term investors are supporting a Seattle startup whose new social network can help creators and influencers earn income from fans.
Light up the picture Announced $1.5 million in financing. Investors include Fritz Lanman (CEO of ClassPass), Kal Vepuri (Founder of Hero), Adrian Aoun (Founder of Forward), Michael Arrington (Founder of Techcrunch), Tod Sacerdoti (Founder of Pidream), Andreas Penna (President of Rain Instant Pay), Tribe Capital and “digital” supermodel Coca Rocha.
LitPic aims to differentiate itself from other social media platforms through built-in tools that allow all creators to make money on the app. It uses an in-app currency called “Lits” to allow users to support creators and get behind-the-scenes content. Users can also get rewards and allowances through their contributions, creating motivation for them to create gift creators.
“With the support of influential people, tens of billions of dollars of corporate value have been created, but so far they have not shared this advantage. Thanks to LitPic, this situation is about to change,” Lanman said in a statement .
Part of the appeal of LitPic is to make more creators make money, not just the top influencers on platforms such as Instagram and TikTok.
LitPic is certainly facing an uphill battle in attracting enough people to use its application in a crowded market, but the company believes it is unique.
“We are excited to create a platform that combines social networks, standardized monetization tools, and creative cameras to produce cool content in an all-in-one solution,” said the CEO Morris Yi, Has extensive experience in talent reservation, product design, marketing and event production. “We believe that everyone should be able to monetize their work and pay for their creativity, while also returning the attention and popularity of fans and supporters.”
LitPic said it plans to incorporate NFT in the future. It has allowed users to cash out their Lits and invest in LiteCoin, one of the company’s partners.