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It argues that NFTs are personal property, not contracts (despite the smart contracts popular nomenclature) or pure intellectual property licenses (despite the currently governing law of digital assets like e-books).

The idea for Capsule started with a tweet about reinventing social media.Ī day later cryptography researcher, Nadim Kobeissi - best known for authoring the open source e2e encrypted desktop chat app Cryptocat (now discontinued) - had pulled in a pre-seed investment of $100,000 for his lightweight mesh-networked microservices concept, with support coming from angel investor and former Coinbase CTO Balaji Srinivasan, William J. Cryptocat author gets insanely fast backing to build P2P tech for social media. I'm designing a decentralized social media solution where each user hosts their own microservice. It will be lightweight, user friendly and secure.Īre you interested in funding its development? These then connect to one another in a mesh, allowing following and sharing posts. The nascent startup has a post-money valuation on paper of $10M, according to Kobeissi, who is working on the prototype - hoping to launch an MVP of Capsule in March (as a web app), after which he intends to raise a seed round (targeting $1M-$1.5M) to build out a team and start developing mobile apps.įor now there’s nothing to see beyond Capsule’s landing page and a pitch deck (which he shared with TechCrunch for review). But Kobeissi says he was startled by the level of interest in the concept. “I posted that tweet and the expectation that I had was that basically 60 people max would retweet it and then maybe I’ll set up a Kickstarter,” he tells us. Instead the tweet “just completely exploded” and he found himself raising $100k “in a single day” - with $50k paid in there and then. I’ve been running a business based on consulting and based on academic R&D services,” he continues. “But by the end of the day - last Sunday, eight days ago - I was running a Delaware corporation valued at $10M with $100k in pre-seed funding, which is insane. Completely insane.”Ĭapsule is just the latest contender for retooling Internet power structures by building infrastructure that radically decentralizes social platforms to make speech more resilient to corporate censorship and control.

The list of decentralized/p2p/federated protocols and standards already out there is very long - even while usage remains low. Extant examples include ActivityPub, Diaspora, Mastodon, p2p Matrix, Scuttlebutt, Solid and Urbit, to name a few. Interest in the space has been rekindled in recent weeks after mainstream platforms like Facebook and Twitter took decisions to shut down US president Donald Trump’s access to their megaphones - a demonstration of private power that other political leaders have described as problematic. Kobeissi also takes that view, while adding the caveat that he’s not “personally” concerned about Trump’s deplatforming.