Inside twocents, the new social network where your pure wealth is your identity

Your pure wealth He is Your network.

This is the hypothesis behind Twocents, which is an emerging social media platform that replaces traditional user names with this number.

After collecting a 3 million dollar pre -seed tour of Dragonfly adventure companies and the start line in late June, the platform is preparing to launch a year later this year.

“We got rid of all the procedures,” said the founder and CEO Andy Douru, 26, told NYNEXT. “It is related to radical transparency.”

TWOCENTS is validated by the pure value of users by linking bank accounts, brokerage portfolios and encryption portfolios through PLAID – Fintech service used by applications such as Venmo and Robinhood. This cumulative number, volatile as user accounts do, becomes the only definition feature on the statute.

To date, about 1,400 users on board have been placed through a special experimental version, bringing with them more than $ 150 million of connected assets. The highest clear value verified on the platform is located at 16 million dollars.

Unlike traditional social media, the net value is the candidate, not flexible. Unlike financial platforms that focus on financial such as Public.com and Stocktwits, Twocents are by their nature not false.

Despite her financial framework, Douru noted that the content published on Twocents is similar to X (previously known as Twitter) which is traditionally present in financial forums. Regardless of investment, topics from politics to dating to professional advice – with a net net value of users alongside each post, adding weight – and context – to every opinion.

Even opinion polls come in an additional depth: users not only see any option that wins, but also the average net value of voters in each group.

Structurally, the Reddit platform is similar; Participants are organized according to the topic, and users can follow up or not follow up to organize their summary. Doru says that the nearest cousin of Twocents is the Bloomberg Station, which costs about $ 24,000 a year.

“You know that the person on the other side can bear it at least,” he said. “This changes your perception.”

While the platform only recognizes the bank, mediation and encryption at the present time, Twocents plans to expand real estate, emerging arrows and other asset categories, such as luxury compounds, in the future.

“We are excited to bring our artistic experience () to support the next generation of social platforms,” said Tom Schmidt, a partner at Dragonfly who led the investment.

Funding will also be used to support the integration of debt vision, including real estate loans, student loans and credit cards balances – allowing users to compare wealth, but financial facts.

Duro sees live events – a dinner for users who have $ 50,000 of credit card debts, or those who kept Apple shares for a decade – as a natural stretch of the platform.

“A lot of shame is excused when you know that everyone in the room is in the same position,” he said.

Despite its focus on transparency, Twocents do not collect any personal data, email addresses or phone numbers. Account accreditation data is created locally on the device and its synchronization via iCloud.

The calculations were stored during a local beta test via iCloud, and the data pulled through PLAID “Reading only” was only and limited to account balances.

This story is part of nynextAn indispensable look at innovations, moon shots and political chess that are more important to players in power in New York City (and those who look forward to being).

Twocents will be launched via iOS, Android and the web before the end of the year, and Duro is estimated, with features such as published financial publishing-Think of showing your banking activity quote-finish, a system not only rewards wealth, but to sight.

“We want to link the wealthy to smart people,” Douru said. “How does the world look with a social network that enables it?”

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