Despite the recent rise in the price of BTC, experts warn investors not to get too excited as it does not indicate an overall crypto market recovery. The fate of risky assets, including cryptocurrencies, remains tightly linked to the Fed's decision to cut rates and regulatory attention surged in the aftermath of the tumultuous events of 2022.
Amidst the doom and gloom, there is a glimmer of hope. The projects which have the potential to attract new supporters can fuel the crypto market. One of these trailblazers is the GameFi short video platform Cheelee.
Cheelee has already shot to the top of the NFT and GameFi rankings in 2023. The beauty of Cheelee is that all you need to do to earn rewards is to watch your video feed. No entry fees, no barriers. Its target audience is the vast universe of social media users, and its aim is to draw them into the world of crypto, driving mass adoption like never before. And with Cheelee leading the charge, a new bull cycle no longer seems like a distant mirage.
What Is Cheelee
Cheelee is a video platform that is transforming the relationship between social networks, bloggers, and users. Developed by the creators of NUTSon, a social network app with 1.5 million users and 15,000 videos, Cheelee provides an entirely new approach to the interaction between social media platforms, advertisers, and ordinary users. Unlike other social media platforms, Cheelee rewards users for scrolling through their favorite video feeds, regardless of the number of their subscribers. It's the simplest and most accessible way for anyone to earn rewards.
Cheelee is based on the concept of the attention economy, a model first proposed by Herbert Simon half a century ago. The idea is that attention is a valuable asset, and Cheelee has brought this concept to life. Both content creators and users benefit from the platform. Creators have a new platform to showcase their content, and users have a new source of income that does not require any gaming skills. All Cheelee needs from its users is their attention. With the rise of Play-to-Earn, Cheelee is set to transform the trend into crypto mass adoption in the coming years.
Getting inside Cheelee
Let's talk about Cheelee's tokenomics. Cheelee uses two tokens: CHEEL and LEE. CHEEL is the governance token. There are only 1,000,000,000 of CHEEL in total. CHEEL is already listed on Bitmart, Coinsbit and you can track its price on Coinmarketcap. CHEEL gives you voting rights on the platform, so you can help decide where it goes in the future. Plus, if you hold CHEEL, you can stake it and earn passive income and some extra bonuses.
CHEEL`s economy is designed in such a way as to withstand market volatility. The project's team and venture funds won't be able to sell their tokens for two years, and community members' tokens will be frozen for four months. This restriction means that the token won't face panic sales during periods of market turbulence, providing investors with protection and increasing the value of CHEEL over time. Keeping in mind that the social media audience exceeds 4.6 billion people, CHEEL has a lot of potential for growth. So, if you're looking for a token that could bring you vast returns, CHEEL might just be the one for you.
Next, there's LEE, the utility token. You can earn LEE just by watching the video feed on the platform. You'll need LEE to pay fees on the platform and for all other internal calculations. The really cool thing about LEE is that its mining complexity is constantly growing, which naturally stimulates its price growth. There are only 7,000,000,000 LEE tokens in total, so its potential for growth is really high. We even think it could become the new bitcoin someday, especially since Cheelee is expected to attract billions of users in the coming years.
Cheelee has a significant advantage in its approach to diversification. Unlike other GameFi projects, Cheelee doesn't disregard proven and reliable business models. Up to 40% of Cheelee's earnings come from advertising, brand partnerships, and in-app purchases. This approach decreases cryptocurrency-related risks and strengthens Cheelee's long-term viability.
Conclusion
Cheelee's success is evident from the whopping $22.45 million it has attracted in 2022. This includes equity investments from VC Sila and Veligera, token allocation from six VC funds, and $11 million from the company's founders. Cheelee is now available on Google Play and will soon be on the App Store. It's more than just Play-to-Earn; it's a game-changer that's revolutionizing how we interact with social media.