Bluesky Maintains Stance Against Blockchains Despite Funding Support
- Bluesky secured $15 million in funding from Blockchain Capital, a venture capital group with ties to crypto firms.
- The company emphasizes its commitment to a non-financialized social experience, avoiding blockchain and cryptocurrency integration.
- Bluesky aims to differentiate itself from competitors who utilize financial mechanisms within their platforms.
On October 24, 2024, Bluesky, despite securing a $15 million funding round from Blockchain Capital, announced it would not incorporate blockchains into its platform. Blockchain Capital is known for its investments in various cryptocurrency firms. This decision reflects Bluesky's commitment to maintaining a non-financialized user experience on its platform, prioritizing user interaction without the influence of cryptocurrencies, blockchain technologies, or hyperfinancialization. The announcement reinforces Bluesky’s stance regarding the development of its app and the AT Protocol, clearly stating their intention to avoid integrating tokens, crypto trading, and NFTs into their social experience. This positioning is significant as it sets Bluesky apart from other platforms that leverage financial mechanisms to engage users, thereby maintaining a focus on the core social experience rather than commercializing interactions.