Isaac Hayes III makes its mark in the tech industry and changes the culture with its new app, Fanbase. Songwriter, producer and now tech genius has founded an app that gives creatives a portal to benefit from their talent, work and experience.
Fanbase is a subscription-based social media platform that allows all content creators to monetize their content and amplify their brands by gaining subscribers, who can donate money in the form of “loves” that ‘they buy from the platform’s subscription store.
Hayes is the first black man to raise more than $ 3.5 billion in micro-donations as part of a Reg CF campaign that surpasses the original goal of $ 2.6 million. Nearly 5,000 investors have bought shares in the app’s tech startup, including Charlamagne Tha God, Snoop Dog and âReal Housewives Atlantaâ star Kandi Burrus.
As of January 2022, Hayes had raised more than $ 4 million in seed funding through StartEngine. Instead of attracting big investors, Hayes raised money in the form of microdons. “I chose this path because founders of color are overwhelmingly denied access to Venture Capital’s capital,” he said. âIn addition, users are the economic engine of social media platforms. Who better to have equity in the platform than the users who will make it successful. Rather than the same 3000 people who still have these opportunities.
Fanbase was founded from its Atlanta base in 2019 and has nearly 50,000 users. Hayes understood the importance of long-term content monetization after managing the name, image, likeness, and publication catalog of his soul icon father, Isaac Hayes.
âFanbase is the first of its kind,â said Hayes. “Fanbase allows you to have followers and subscribers on the same page. We are in the subscription age. If you don’t charge for your content one way or another, you are leaving thousands on the table each month.The platform offers a monthly subscription of $ 3.99 for viewers to subscribe to their creations and access their exclusive content.
The app also has a feature called Direct Voice audio chat, similar to Club House. However, it is the first audio chat platform that saves money for stakeholders.
Fanbase is currently available for free download in over 170 countries from the Apple App Store and the Google Play Store.