PRESS RELEASE. Torum was founded on 1. Launched in July 2020, it is a social media platform designed specifically for cryptocurrency users. The name Torum, which symbolizes the nature of the platform, came from the combination of tokenized and forum. The platform aims to connect cryptocurrency users from around the world to form a unified ecosystem of the cryptocurrency industry.
Torum works in a remote team organization. The team consists of 18 members, with founders and lead developers from Malaysia, India, and Turkey, with diverse experience in UI/UX, mobile apps, cyber security, etc.
With an initial development fund of $300,000, the team behind Torum built the community organically with a modest top-down approach. After starting with just 1,000 beta users, the number of registered users has grown exponentially to over 25,000.
Ranked in the top 50,000 on Alexa’s list, Torum is currently a popular meeting place for the cryptocurrency community around the world, including the United States, Canada, Switzerland, Italy, India, Singapore, and Australia.
Riding the wave of DeFi and NFT
Torum is unique from other social media platforms and has positioned itself as a social media platform that is always ready to embrace the latest innovations in the utility industry. A brilliant strategic move, according to A. Goh, Torum’s CEO,
The rise of DeFi and NFT is the perfect catalyst to bring a wave of newcomers to this space, and Torum is certainly their ideal starting point.
Taking on social media giants like Facebook, Twitter, and Reddit is just suicidal, so Torum is inherently only for crypto currency addicts and enthusiasts. This sets Torum apart from other cryptocurrency social media providers who admit users from all walks of life, even those who do not share cryptocurrency interests at all.
The integration of crypto innovations like DeFi and NFT gives the crypto community a solid reason to join Torum, while ensuring that the platform remains attractive only to those interested in cryptocurrency and blockchain-related topics and discussions.
Binance’s first social media project on the Smart Chain
Inspired by the innovation of DeFi & NFT, retailers and brands are moving into the crypto space at lightning speed. This trend has unfortunately pushed the Ethereum blockchain to its limits. Given the future economic downside caused by Ethereum network congestion, Torum (XTM) will migrate to Binance’s Smart Chain (BSC) and become the first social media project in the ecosystem.
The migration has received the full support of the Torum community, meaning everyone will be able to benefit from on-chain transaction fees on parts of the Ethereum network, while the upcoming Torum NFT marketplace will be one of the first NFT platforms to launch in the BSC ecosystem.
It will be interesting to see how the BSC ecosystem will benefit from Torum in the long run. Over time, the platform should become a bridge of acceptance connecting the general public to the crypto space.
Jason Tan, CMO
Email: [email protected]
Official Website: https://torum.com
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