The metaverse is booming. New trends in blockchain technology are emerging every day and the metaverse is one of them. With more and more users interested in creating content and seeking to connect in the virtual world with people similar to their tastes, Torum SocialFi Metaverse plans to fill this space through its disruptive proposal.
I had the opportunity to talk with Yi Feng Go, the CEO and one of the brilliant minds behind Torum SocialFi Metaverse about his proposal, his thoughts, and projections about the new economy around this growing sector. 1. Tell us a little about the history of Yi Feng Go and his foray into the blockchain industry
I joined the space back in early 2017 by investing in Ethereum under the introduction of a friend. As crypto was getting more popular, Malaysians were trying to find their way to buy crypto, but their lack of understanding made them fearful of joining the market.
When I noticed this problem, I saw it as an opportunity to open up an education channel to lead more Malaysians to the crypto market. So, in late 2017, I created Ah Go Wu, a YouTube channel that educates and spreads the right blockchain knowledge to Chinese Malaysians.
As a micro KOL, I began to see the damage that scammers were doing to the industry. I get lots of DMs on people getting scammed for various reasons, and it got me thinking how this phenomenon can be stopped.
The thought eventually led me to found Torum, a SocialFi ecosystem that is specially designed to connect cryptocurrency users. 2. How did you come up with the idea of creating Torum?
It was in late 2018 when scams were prevalent and news about people getting scammed in crypto was all over the place.
The team believes that only by connecting crypto communities and projects in an ecosystem, the scam can be potentially brought to an end. The ecosystem also acts as a marketing funnel (akin to Twitter) for projects to build their communities and social outreach.
And what’s better at connecting people than a social network?
Hence, we decided to found Torum, the world’s first social media platform specially designed to connect cryptocurrency users, which is born from the combination of “Tokenized” and “Forum”. 3.- What relevant aspects does Torum propose to the industry?
Torum offers a crypto-oriented and interconnected SocialFi experience, which consists of Social, DeFi, NFT and Metaverse.
On the Social side, everyone can now connect with over 200,000 cryptocurrency users at ease. It effectively removes the hassle of finding crypto communities and enables anyone to start the conversation right away. The DeFi section of Torum empowers you to take part in liquidity farming with gamification. DeFi investors can connect their Torum accounts and multiply their liquidity farming stake using their social activeness.
An NFT marketplace is designed and integrated to Torum, which enables crypto artists to mint, list and market their NFT collections straight to an active community of over 200,000 users.
A metaverse will also be created where everyone can build and customize their virtual identity through Torum Avatar NFT. Two series have been launched so far, where the 2nd series – Squid Game was sold out in less than 24 hours upon launch. 4. Torum talks about a SocialFi Metaverse. What meaning does this concept have for the common user?
I think we should start with defining what SocialFi is. SocialFi is the combination of Social and DeFi, where users are empowered with the ability to earn from their interactions and influence as content creators.
A SocialFi Metaverse is essentially emerging the concept of SocialFi into the Metaverse. Instead of connecting with others on platforms like Facebook, you can interact and earn in an open and immersive world offered by the metaverse technology.
SocialFi Metaverse is one of the grand visions that Torum is building for cryptocurrency users. And it’s going to be fully open, which empowers anyone, including projects, influencers, and the private sector to join the Metaverse together. 5.What milestones has Torum achieved in recent months?
In terms of financing, Torum has secured a strategic investment from Huobi Ventures and KuCoin Labs respectively in September and November 2021.
From Nov to Dec 2021, the project has also embarked on a total of 5 exchanges, including KuCoin, Huobi, MDEX, BKEX, and MEXC Global. The exchange listing strategy has enabled our token, XTM to achieve a 24-hour trading volume of over $88M USD.
By the end of Dec 2021, the number of users on Torum has […]
source Building a SocialFi Metaverse: An Interview with Torum CEO Yi Feng Go
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