Intended to get right what Facebook and Twitter have so far been getting wrong, Wikipedia co-founder Jimmy Wales is launching a social-media website named "WT: Social" which will compete with both the social media platforms.
{"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-2…","video_id":"2f074372-b3fa-4f9f-8191-57992d2241ce","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"10 Highest Average Cappuccino Prices Around the World"}
Instead of going for an ad-funded model, Wales aims to finance it through donations, just like Wikipedia.
Like those platforms, WT:Social will let users share articles. But WT:Social will be funded by donations, rather than advertising.
"The business model of social media companies, of pure advertising, is problematic. It turns out the huge winner is low-quality content," Wales was quoted as saying by Financial Times, according to an Engadget report.
It started as Wikitribune - a site that published original news stories with the community fact-checking and sub-editing articles. The venture never gained much traction, so Wales is moving it to the new platform with a more social networking focus.
WT:Social will be free to join, but at the moment, you either have to sign up for a waitlist, donate or invite friends. Just a month old, it already has 50,000 users, the Engadget report added.
