Voice, Block.one-backed social network, to wind down operations

In the coming months Web3-social network Voice, backed by Block.one, will wind down its operations due to ‘uncertainty in the crypto markets and NFT‘.

Today, we are sad to announce that we will be winding down operations at Voice over the coming months.

— Voice (@VoiceHQ) September 13, 2023

“At present we believe that, in the interests of Voice and its community, we should use the remaining resources we have to optimise the wind-down process,” said representatives of the project.

The EOS blockchain company Block.one invested $150 million in Voice’s development, and spent a further $30 million on the voice.com domain.

Launched in 2020, the platform is built on a separate implementation of the EOS protocol and uses biometric authentication to guard against bots and fake accounts.

Voice was positioned as a “content marketplace” where users could control the promotion of posts. This feature was implemented using native tokens earned for activity.

The network was mainly popular among artists and NFT creators, who aligned with the concept of tokenised marketing.

Too bad Voice turned into an art/NFT platform instead of sticking to becoming a social platform.

— Michael (@1MichaelWheeler) September 13, 2023

“It’s a pity that Voice has turned into an art/NFT platform rather than becoming a social network,” one user lamented.

Ahead of the final closure, the Voice team will set up a service to migrate non-fungible tokens to other networks.

The EOS token hardly moved on the news. On CoinGecko, the asset was trading at $0.5578, up 0.6% on the day.

Earlier in August 2023, the NFT platform Recur announced the discontinuation of operations due to ‘unforeseen problems and changes in the business landscape’.