Folkspaper

Folks is company that has developed a social media platform that is designed to be used solely by cryptocurrency users. The company was founded by Alexander Wood and Alex Hung, in Boston, Massachusetts, United States.



The company designed the media platform called Folkspaper. It is based on the idea of an earn as you post basis. The platform allows users to exercise transactions with cryptocurrencies while interacting with an online community. The content that users post are open to accepting tips as rewards for the creators of the posts.



Folkspaper refers to their platform as social media 3.0, and is aiming to become a model of decentralized journalism where users can be readers and contributors. Posts that are on Folks platform are geographically recorded and delivered to users in a nearby area down to the perimeter of a block.



The company has raised $465K in Seed money from the years of 2017 to 2019 over two different funding rounds. $10k was raised in 2017, and the company raised $455K in 2019.