Headquartered in Egypt with a presence in the UAE, Pravica, the Web3 Blockchain privacy-compliant communication platform, launched the first DcFi (Decentralized Communications and Finance) platform under the name Pravica Club.
The DcFi Pravica Club is an extension of what Pravica has already been working on for the past three years. Pravica applications, built on Stacks Blockchain and secured by Bitcoin, has developed and launched a completely decentralised Web 3.0 communications platform that can be utilised by both enterprise and individuals securely and easily. Pravica offers, the Pravica Messenger for mobile devices and now Pravica club.
Mohamed Abdou, Founder and CEO of Pravica, said, “We are empowering the Web 3 creator economy. This is especially relevant in the era of the metaverse where individuals will need decentralized identities, secure communications and P2P financial transactions. DcFi, presented as Pravica Club, is the gateway towards a truly Web 3.0 creators economy.”
The Pravica Club is the first DcFi platform offering several interesting features. It is a DcFi platform because other than allowing for Web3 and native crypto conversations it also offers seamless in-chat payments and stacking pools similar to most DeFi (Decentralised Finance) applications out there.
Users of Pravica Club are on-boarded with their decentralized identity from BTC domains which are registered through a smart contract on Stacks Blockchain, secured by Bitcoin. No email, phone number or any personal information is required.
All messages are encrypted. Messages can be cryptographically linked back to the crypto wallet by signing special messages with currently the Hiro wallet. In the future, Pravica is working to enable full functionalities of wallet-to-wallet conversations, as well as enabling users to invite others using wallet addresses for full interoperability.
Gideon Greaves, Managing Director CV VC Africa, said, “Pravica club is truly disrupting the way we communicate online. It’s only a matter of time before the web3 community moves away from centralised communication platforms. I believe Pravica club is where they will go. The features, secure platform and team within Pravica are world-class.”
Users don’t need to copy and paste NFTs to be used as profile pictures, but instead, extract the NFT from their wallet and showcase it as a verified avatar. The NFT is authenticated by each user’s wallet. In the future, these NFT avatars will be utilised to unlock other offerings in Pravica Club.
Users can send cryptocurrency payments, as likes, and enter stacking pools. Content creators can thus monetize their content through “Write to Earn” or “Create to Earn”, just like predecessors “Play to Earn”.
One of the unique features of the Pravica Club is the ‘eternal message.’ Users in Pravica Clubs or in Pravica messenger will be able to extract a text of 1024 characters and mint it as an eternal message. The eternal message takes the form of an NFT. Eternal messages can be used to save and engrave personal moments, like the first time someone said ‘I love you’, business agreements or historical statements.
