Introduced in February 2023 by NUTSon, Cheelee is a GameFi platform dedicated to short videos, utilizing the Attention Economy model. Users on Cheelee can earn rewards simply by watching its content feed. With the ability to bridge the gap to cryptocurrency's widespread acceptance, Cheelee offers 4.6 billion social media users worldwide an effortless entry into the GameFi universe.
Cheelee is a fully functional application, ready for download from both the App Store and Google Play. The app is designed to be intuitive, requiring no upfront expenses, as all users receive a pair of Starter NFT-glasses for free upon signing up. Additionally, users can boost their earnings by obtaining rarer NFTs and using a suite of gaming tools. This makes Cheelee the pioneering crypto project with a user base potential that encompasses nearly half of the global population.
According to its whitepaper, Cheelee’s core mission is to enable everyone to earn from the time they spend on social networks. The platform aims to transform Cheelee into a lifestyle where users worldwide can enjoy themselves while monetizing their app usage. Through blockchain technology, Cheelee introduces the CHEEL and LEE tokens, offering various uses within the platform and appearing promising as long-term holdings, with details provided in a subsequent section of this article.
Who Are Cheelee’s Founders?
At the helm is Ruslan Sharov, Founder and CEO, who brings extensive experience and expertise to Cheelee. With a solid background in technology and a profound understanding of blockchain, Ruslan guides the company towards reshaping the social media landscape. His leadership and strategic vision have been pivotal in Cheelee’s growth, establishing it as a leader in the burgeoning SocialFi sector.
Roman Alekseev, a Co-Founder of NUTSon and Cheelee’s short video platforms, is also a venture capitalist managing a $500 million investment portfolio. A crypto millionaire with investments in 44 crypto projects and over two decades of international market experience, Roman is a philanthropist, mentor, and visionary entrepreneur.
Yuriy Kardonov, Cheelee’s CPO and Co-Founder, is a seasoned expert passionate about creating outstanding user experiences. His extensive knowledge of product development and user-focused design is essential in crafting Cheelee's innovative platform. Yuriy's dedication to smooth and engaging interactions ensures Cheelee provides an immersive social media experience, making him an invaluable member of the team.
What Distinguishes Cheelee from the Rest?
A significant 58.4% of the global population spends about 2 hours and 27 minutes on social media daily. Yet, centralized platforms and their stakeholders largely exploit users’ attention, interactions, and data for profit. Platforms like YouTube and TikTok offer monetization primarily to creators, even though the real value in these apps stems from the content-consuming users targeted by ads and other economic strategies.
Cheelee is pioneering as the first social media platform to prioritize regular users. While users continue watching videos as usual, they now receive compensation for their time. This inclusion marks Cheelee as a distinctive and socially impactful project, integrating the majority of social media consumers into the earnings ecosystem for the first time.
Cheelee isn’t just another platform with a Watch-to-Earn model. Here’s why Cheelee stands apart from any Play-to-Earn project that’s ever launched in the blockchain arena:
* Cheelee boasts a robust financial model, with 40% of its revenue derived from advertising, whereas similar projects rely on NFT sales for over 99% of their income. Cheelee’s diverse revenue sources allow it to weather any market conditions, including prolonged market downturns.
* As a social network foremost, Cheelee taps into a market of 4.6 billion users, promising sustained growth for at least a decade due to the constant influx of new users. This market shows no signs of stagnation and continues expanding!
* Users can buy NFTs directly with fiat. On the Cheelee Marketplace, NFT glasses can be purchased via bank card, and crypto can be exchanged for fiat within the app, then withdrawn to your card. Cheelee is pioneering in implementing this functionality, facilitating real mass adoption!
* The user experience remains familiar: users don’t need to change their habits. They only need to continue spending time enjoying the short video feed tailored to their preferences by a sophisticated AI. Unlike other 2Earn projects that require lifestyle changes to earn money, like running extensively or maintaining virtual pets, Cheelee offers a seamless experience.
Understanding the Attention Economy
As previously mentioned, adults typically spend 2.5 hours on social media daily. Young people, or Zoomers, often spend upwards of 10 hours on their phones, predominantly watching short videos. As the volume of content swells, creators face intense competition for users’ limited attention.
This scenario was foreseen half a century ago by Nobel laureate Herbert Simon, who coined the "Attention Economy" concept. He predicted that as data availability grows exponentially, time and attention would become the most precious resources. As our society transitions from an industrial to a knowledge-based paradigm, attention is expected to surpass traditional commodities like oil and gold in value.
Today, we exist in an attention economy, and Cheelee is the first company to truly capitalize on this by rewarding users for their attention.
How Many Cheelee (CHEEL) Tokens Are in Circulation?
A total of 1,000,000,000 CHEEL tokens exist in maximum supply. The distribution plan for these tokens is detailed in the CHEEL Token Distribution table provided below.
Of the entire token supply, 12.25% is reserved for the Reserve fund. Additional portions of 0.2%, 0.15%, and 0.05% are allocated for Strategic rounds 1 and 2, and the Private round, respectively. The team has secured 10% of the total token supply. For community drops, 0.125% of the total supply is set aside, while advisors receive 0.5% in rewards. The majority of tokens are distributed as follows: 10% to the liquidity fund, 28.625% to marketing efforts, and 38.1% as rewards within the app.
As of June 2023, there are 262,591,215 CHEEL tokens in active circulation, making up 26% of the total supply.
How Does Cheelee Ensure Security?
One of Cheelee's major strengths lies in its stable economy, which contributes to the token’s resilience against market volatility. As previously mentioned, the project’s diverse revenue streams ensure ongoing stability.
CHEEL token value is safeguarded from steep declines by a two-year lock on investment capital and team tokens, meaning these assets are unavailable for trading during the project’s critical growth phase.
The Stability Fund receives the majority of the company's earnings (70% from advertising, in-app purchases, transaction fees, and 100% from NFT sales). This serves as a buffer to protect Cheelee tokens from market fluctuations.
Cheelee employs several strategies to promote stable asset growth:
* BuyBack — enhancing demand and reducing the circulating supply by purchasing tokens from the market using Stability Fund resources.
* Make supply — ensuring a supply that meets demand through liquidity provision, further circulation, and token reuse.
* Token burning — using part of the repurchased CHEEL and LEE tokens to lower the circulating supply and adjust prices.
The project is safeguarded against exploitation by farms and bots, thanks to sophisticated behavioral metrics that block such activities, protecting the system from fraud and liquidity depletion.
