Fanbase is climbing its way through the app store as TikTok users in the US are finding alternative apps to move to. The Supreme Court is set to rule a law on 19 January for TikTok that will determine if they will sell its US operations or outline a ban for TikTok users.
Users of the app are looking for new social media apps to use, and Fanbase appears to be one of them. Isaac Hayes III said that the app reached number 6 on the Apple App Store for social media yesterday and number 16 on the entire app store in a LinkedIn post; he also shared that the app received $5.2 million in funding.
Why was Fanbase created?
Hayes created Fanbase to enable Black creators to cultivate their audiences and monetize their contributions effectively. Last year, the company launched its $17 million Reg A series equity crowdfunding campaign, allowing the public to invest in the company for $399.
A 2021 study by The Influencer League involving US-based creators found that the pay gap between white influencers and influencers of color is 29%. When narrowed further between white and Black influencers, the margin rises to 35%.
Fanbase differentiates from other platforms that need brand partnerships or ad placements to make money. The app allows users to “like” other people’s content and “Love” it, which users can turn into money.
Alternatives Apps People Could Turn To
Neptune
This female-owned app is set to be a new potential home for former TikTok users. It’s set to be focused on community and promises monetization, according to Her Campus. However, the app isn’t available for users not part of their Discord community. You’ll have to wait until January or February to download the app.
Spill
Spill launched in July 2023 and gained immediate popularity within the Black community. They aim to build diverse communities for Black Americans and the LGBTQ community. The platform uses blockchain technology to chart how many posts go viral.
Frequency People
Frequency People is a Black-owned social collaboration platform that lets creators control almost every aspect of the online communities they build. Individual users and businesses can create a public or private community to connect with those with similar interests.
Inpathy
Inpathy attempts to rebalance social media by creating a space where we can share the highs, the lows, and everything in between. It provides monthly overviews that show you if you’ve been doing well or feeling low. It also offers helpful suggestions such as to mediate, talk to a friend, or share how you’re feeling.
Image: Julia Beverly
