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Finance

Near to Help Colombian Web3 Social Network Blumer Build Token Infrastructure

Users will be able to convert Blumer tokens for other cryptocurrencies and withdraw to wallets.

By Andrés Engler
AccessTimeIconJul 28, 2023 at 11:45 a.m. UTC
Near has partnered with Colombian social media platform Blumer to build token infrastructure. (Archive)
Near has partnered with Colombian social media platform Blumer to build token infrastructure. (Archive)

Near Foundation has partnered with Colombian web3 social network Blumer to provide it with token infrastructure.

Blumer started using Near Protocol to host the rewards tokens that its users receive for viewing advertising on the platform, Blumer CEO Ernesto Ruiz told CoinDesk, adding that users will be able to convert tokens to other crypto or send them to wallets using the Near blockchain.

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    • The platform currently has 790,000 users, with Colombia leading the way, followed by Mexico and Venezuela, said Ruiz, who added that on average users receive $7 a month for using Blumer.

    Besides monetizing their time on the platform by consuming ads, Blumer users can also sell NFTs or transact with crypto, Near Foundation said in a statement.

    Before sealing the partnership with Near, Blumer delivered its tokens through its own blockchain infrastructure, and users in Colombia were able to convert them into cash at local Davivienda banks, Ruiz said.

    Edited by Parikshit Mishra.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Andrés Engler
    Andrés Engler

    Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

    Follow @andresengler on Twitter