Facebook Veterans Launch New Social App For Crypto Art

Blockchain, News | May 1, 2019 By:

New York startup Editional has officially released its ethereum-based social app after securing $1.5 million in a seed round from notable investors, including ConsenSys Ventures, Digital Currency Group, and CoinFund.

Co-founded by former Facebook employees – John Egan, Cole Potrocky, and Zac Morris – Editional is a digital platform for the creation, discovery, and redemption of unique collectible items. Underpinned by blockchain technology, the platform allows content creators to engage with fans, showcase their work, and share unique pieces at the touch of a button.

The Editional app, which is one of the first consumer-grade applications using blockchain to go live on the App Store for iOS devices, enables users to upload or shoot imagery and then set a limited number of “Editions” for each artwork. These editions are turned into non-fungible tokens and are then claimed by other users on the platform who can either store the art in their digital wallets or sell it on the open market.

“Editional encourages the social aspect of creating and sharing art – enabling users to follow creators, chat with them directly, and claim unique pieces for themselves,” the company said. “The advantages of blockchain verification allows each piece of work to be truly unique, with embedded provable ownership and transaction history, as well as preventing fraud and the unfair reproduction and reselling of unique work.”

John Egan, CEO of Editional and former Facebook Product manager, said that Editional will allow anyone to discover and create next-generation art and creative digital content right on their phone, without having to learn about blockchain technology.

“Our teams’ experience working on social platforms for a combined three decades puts us in a great position to truly put collectibles in everyone’s pocket, allow creators to create more unique and lasting relationships with their fans and followers, and be part of a vibrant, interactive, and fun community,” Egan said. “Editional has a different value proposition to the giant social platforms we are all used to. We think it’s time to give power back to creators. Editional allows for relationships to be built around the content on the platform, so we are incredibly excited to watch the community take shape. It has an exclusive feel mixed with the rush of competition to claim the best collectibles before they’re gone or to create the next thing that everyone wants.”