Disclaimer: This article was written by Founder and CEO, Jesse Tevelow. Opinions are his own, and should not reflect on Praise as an organization.
I’ve built companies for 20+ years. As a founder, Web3 is a nightmare. I’ll explain why it’s a nightmare below. But first, I’m thrilled to announce two new products.
1. Invite Bot (Built for Telegram)
In 5–6 weeks, we will release a Telegram bot. The bot will award $PRAISE whenever you refer a friend to our Telegram channel.
This is a powerful product by itself. Similar apps combining Telegram’s infrastructure with crypto—like Notcoin, have experienced extreme growth.
But the bot is only the tip of the iceberg.
2. Flagship DApp (Introduction of Love Bombers, XP, and Reward Pools)
Our flagship DApp (pictured above) is in development. The main function involves Love Bombers, a critical resource within the Praise Ecosystem.
Engagement with Love Bombers will tie into XP (eXperience Points), the first element of gamification.
The app is also heavily integrated with the $PRAISE token. Various actions will generate rewards in the form of $PRAISE.
Web3 Needs a Reboot
I have worked in blockchain, crypto, and Web3 for a decade. I am upset with the current state of the industry. We need to do better. Here are three major problems in Web3 that make me want to leave…
1. Jeeters are hurting founders
Impatient, money-hungry degens prevent true startups like Praise from growing. These jerks wreck charts and steal money from innocent consumers. They must go. I don’t know the solution, but they are killing Web3. Hopefully, building good products with utility will eventually force them to leave.
2. Regulators are hurting founders
As a citizen of the United States, I am scared to build my business. I am scared to imagine creative technical solutions to problems for fear of breaking a rule or regulation.
If regulatory fear hinders American founders from building their businesses, it will hinder the United States from maintaining itself as a leader in technology. I don’t know how to solve this problem.
3. VC Cliques are hurting founders
I am competing against other startups raising millions of dollars from VC funds. These startups sometimes have no business model—but the founder has a personal relationship with the fund manager. So, the privileged stay privileged and can easily crush newcomers. This must stop.
$PRAISE stands for Provable Rewards Algorithm and Initiative for Social Equality. We will use our Telegram Bot to grow our user base—eating our own dog food. Eventually, the other dogs will sniff us out and we will feed them, too.
We have an A-list team and a feel-good consumer brand with traction. $PRAISE is for anyone who believes in it. I hope you’ll join us.
Get in touch to support our vision, or buy $PRAISE now.
