Cheelee Is What the Crypto Market Needs to Get Out of the Long Winter
2022 has become a difficult year for the cryptocurrency market and will be remembered for a number of negative events: the crypto winter`s onset, one of the world’s largest crypto exchanges FTX collapse and regulators` suffocating embrace that followed this disaster. Despite the recent positive movements in BTC price, there are still no fundamental reasons for a new bull run. One thing is clear: today the crypto market is in desperate need of fundamental projects that will pull it out of crypto winter. And perhaps most promising is the Cheelee project, which occupies the first place in the Bitcoinist`s rating of NFT and GamiFi projects for 2023.
Conceptually, no new products appeared in the crypto space over the past year, but the existing ones began to receive practical application. One of the interesting trends was implementing NFTs on social media platforms, such as Twitter, Reddit, OnlyFans and VK.
However, none of these Web2 era giants has made a full-fledged implementation of decentralized technologies. And this is understandable: a huge, well-established project is not so easy to transfer to a new track. Today, this completely new and unoccupied niche is being prepared for the Cheelee project which aims to become the new TikTok based on completely new principles. They allow not only earning on the audience’s attention, as it happens everywhere. Cheelee`s main feature is that they pay viewers for their attention.
If Cheelee succeeds, the cryptocurrency market is in for a real boom, as the project targets a multibillion-dollar audience of social media users. Just think that all these people will be involved in the world of cryptocurrencies. This will inevitably lead to mass adoption, which has been talked about in space for so many years. And Cheelee is confidently moving towards success under the guidance of an experienced team, whose portfolio already includes the case of launching Nutson social network with more than a million audience.
Venture Investments amid the Crypto Winter
In 2022, VCs have invested over $30 billion in crypto and blockchain startups. In Q4, Cheelee reported a $22.45 million investment raising, announcing that as early as this winter, users will be able to download its app from the App Store and Google Play. Cheelee was supported by VC Sila and Veligera with $8M in equity investments; 6 VC funds invested $3.45M in token allocation, and the company’s founders put $11M to launch the project ($22.45M total).
The project is also promoted by numerous crypto market experts: Binance NFT Director Ryan Horn, BlockRock Capital and BlockGeeks co-founder Vladislav Martynov, Polygon Technology Senior Product Marketing Manager Siva Sagiraju, USA TODAY Leading Blockchain Expert Evan Lutra and famous YouTube blogger Wise Advice.
Why Cheelee Is What Will Blow up the Crypto Market?
Cheelee catches on the super-popular Play-to-Earn trend which in just two years has set the tone for the entire gaming industry. Now, while playing games, you can receive not only virtual, but also quite real rewards. In some low-income countries, lots of people have already started earning more money in games than in their main jobs.
However, back then the blockchain games audience was represented mainly by the crypto users (320 million). After the Cheelee`s launch it will expand to the social networks audience size (4.6 billion). That is why Cheelee is the first blockchain project originally designed for mass adoption.
Solving the Attention Deficit Problem
Cheelee is a GameFi short video platform with Watch&Earn mechanics that pays all users for watching the feed. Its team is convinced that people should earn in socials regardless of their followers number. This concept is based on the philosophy of the attention economy.
Today’s video platforms explosive growth has inspired a continuous battle between bloggers competing for the viewer’s attention. The volume of video content is getting harder and harder to follow. This leads to the law formulated by Herbert Simon half a century ago: the rapid growth of the information`s amount causes a deficit of attention.
Cheelee was the first to understand that part of the earned funds must be given to users, thus motivating them to focus on this particular platform`s content.
What Does Earning in Cheelee Looks Like?
To be rewarded for viewing the app’s smart feed, users need special glasses, which are non-fungible tokens (NFTs). It’s important that they receive 1st-level glasses immediately after registration which means that everyone can earn in Cheelee without investments. Just watch the feed and get a box with remuneration for every hour of viewing. To earn more, you can buy higher status glasses and upgrade them during the gaming process.
People need to view the content personally, with no help from software tricks. The platform is equipped with an anti-fraud system detecting bots, farms and cheats thus protecting Cheelee from liquidity drain.
Of course, there is a wide range of opportunities for content creators in Cheelee, and given that it’s in its early stages, they can quickly take off here, as it was in all well-known social media in the early years of their existence.
Why Does Cheelee Come to Stay?
One of Cheelee`s main advantages is the stability of its financial system. Up to 40% of its income is provided by additional sources not related to NFT sale: advertising, in-game purchases, and brand collaboration. For comparison, in alternative projects these sources reach a maximum of 1%. Cheelee also has a stability fund accumulating 70% of income from ad revenue and in-app purchases, as well as 100% of NFT sales and in-app transaction fees.
Cheelee also has well-thought-out mechanics to support the price of its two tokens. The limited release and increasing mining difficulty of the LEE in-game utility token is driving its price up and attracting holders. CHEEL is the second platform token which will be listed on exchanges. It allows increasing the NFT glasses level, and is also required to vote for the introduction of new app`s features according to the DAO principle.
Investment funds and team tokens are frozen for two years. It means that at the time of the project`s active growth there will be no tokens in free circulation. The only exception is a community drop (also locked for 12 months) and 3% TGE. This means that CHEEL is immune to panic sellings as well as pressure from funds and investors.
TikTok is estimated to have a market value of $500 billion. Now imagine what would happen if this platform added the functionality of monetizing the time spent watching the feed for users. And that’s exactly what Cheelee does. So even assuming Cheelee’s upside potential is only ⅕ of TikTok`s value, that would be at least $100 billion and CHEEL’s price would rise over 1,000 times in the foreseeable future. At the same time, let’s take into account that the real benefit for users on this platform is incomparably higher than that of TikTok, which means that Cheelee could potentially grow to a much larger size than the Chinese giant.
To date, Cheelee has attracted over 150,000 followers to its community, and surely this is just the beginning. The platform’s launch marketing campaign budget exceeds $30 million, and the entire Cheelee community is waiting for the CHEEL token listing. In the coming years, projects like Cheelee would not seem to appear, since it took the team more than three years to develop the application. Therefore, if you want your time and attention to be appreciated, you should definitely turn your gaze to this platform.
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