Binance founder Changpeng Zhao (CZ) faced overwhelming message volumes on ReachMe and decided to increase the messaging fee.
Reasons for Fee Increase
On March 27, CZ shared his experience with the messaging monetization platform ReachMe. Initially, he set the fee at 0.04 Binance Coin (approximately $24), but was quickly overwhelmed by spam and irrelevant questions. Raising the price to 0.1 BNB ($60) did not help, leading him to set the fee at the current level of 0.2 BNB ($120).
CZ's Objectives with ReachMe
CZ does not intend to personally profit from this system. The earnings from messages will be donated to charity. His goal is to manage the flood of messages and filter out spam. In a March 8 article, CZ outlined a concept that allows key opinion leaders to charge for messages.
Future of the ReachMe Platform
After proposing the idea on March 8, a developer approached CZ with a prototype. The platform went live following discussions and security checks. While ReachMe is in its early stages, CZ’s back-up and potential support from YZi Lab could help it become a leading platform for professional message monetization.
CZ's initiative with ReachMe showcases a new approach to managing message inflow. The platform could become a meaningful solution for unwanted contacts and offers a new model for supporting communities.
