CZ (Changpeng Zhao), the former CEO of Binance, recently shared his experience with ReachMe, a platform designed to help influencers monetize direct messages. His journey with the platform highlights both its potential and the challenges of filtering meaningful interactions from spam.
How CZ Used ReachMe
Initially, CZ set the price at 0.04 BNB (around $24 per message). However, he was quickly overwhelmed with spam and irrelevant questions.
He then increased the price to 0.1 BNB ($60 per message), but this still didn’t deter a flood of messages.
Eventually, he raised it to 0.2 BNB ($120 per message), aiming to filter out low-effort inquiries.
His goal is to receive around 10 messages per day, though he doubts this balance can be achieved.
The Problem CZ Wants to Solve
CZ noted that most messages he receives are either:
1. Too short (lacking detail).
2. Too broad (e.g., "How do I run a successful startup?").
Rather than personally profiting, CZ plans to donate all the funds he receives via ReachMe to charity. He emphasized that his primary goal is not to make money but to manage the overwhelming number of people trying to contact him.
The Origin of ReachMe
On March 8, CZ first introduced the idea of a pay-to-reach messaging system in a Binance Square article. He argued that platforms like LinkedIn and X have low barriers, making them prone to excessive spam. His vision was to create a model where high-profile individuals, or Key Opinion Leaders (KOLs), could charge a fee to receive messages, ensuring only serious inquiries get through.
In this system:
If a KOL doesn’t respond within 5 days, the sender gets back 50% of their payment.
The sender still incurs some cost, discouraging spam while incentivizing responses.
The platform takes a 10% cut, and the remaining 90% goes to the recipient.
Rapid Development of ReachMe
Just 18 days after CZ introduced the idea, a developer reached out with a working prototype. After discussions and security reviews, the platform went live.
Future of ReachMe
While it’s still in early stages, ReachMe could become a major platform for monetizing access to high-profile figures. With potential backing from YZi Labs (formerly Binance Labs), its adoption could grow beyond crypto influencers to entrepreneurs, celebrities, and other professionals.
The question remains: Will this model last? Some may try workarounds like group consulting, but if ReachMe proves effective, it could change how people engage with public figures.
