2.0 – Thisapp

Our mission is to democratize ownership and build a one-stop chat platform.

2.1 Organized Chats.

We organize our social lives by sharing links, handles, and personal identifiers from a host of different apps into Chat apps. Unfortunately, booking history, availability, and transaction data remain in walled gardens – creating a headache for anyone trying to organize anything that involves anyone other than themselves. Further, traditional loyalty programs carry outstanding rewards as balance sheet liabilities, leading to restrictive programs that prohibit pooling, liquidation, and transfers. As a result, users cannot compound their efforts and need to start again with every trip, event, or adventure they organize.
In the same way, taking photos & videos expanded from a profession to a daily activity over the past decade, social organization is evolving into a subconscious cultural habit. As a result, we are increasing the range of message options to facilitate this transition.
In addition to the standard chat options, users can:
  1. 1.
    Create and share events.
  2. 2.
    Share their availability.
  3. 3.
    Confirm bookings
  4. 4.
    Make payments.
  5. 5.
    Keep track of expenses.

2.2 The Wallet.

Digital wallets are rapidly evolving into public identities. In a similar fashion to email, users can connect their wallets to various platforms simultaneously, meaning their data is interoperable and platform agnostic. As a result, there is an opportunity to integrate and build on the primitives of wallet infrastructure to further fuel the Chat flywheel. This flexibility creates a revolutionary user experience. For example, imagine if your Cash App, PayPal, and Venmo accounts leveraged one wallet and reflected the same balance. The integration of wallet functionality allows users to make global purchases/transfers safely and cost-effectively using crypto-currency. Additionally, users will have the ability to buy, sell and swap a wide plethora of assets including $THIS. To offer a few tangible examples; ETH wallets (Rainbow/Metamask), Solana (Phantom), and Bitcoin (CashApp).
Metamask, a wallet that is used to connect to decentralized applications, recently announced that it had 32 million monthly active users as of February 2022, and Phantom (a wallet currently focused on Solana) announced monthly active users of 2 million in January 2022.
Within each Chat, users will have the ability to share expenses, make transfers and maintain an IOU tab. The Wallet will aggregate the user's activity across all individual & group chats and reflect a single balance. Additionally, the Wallet will host the user's thiscard; a customizable debit card (Visa/Mastercard to be determined) connected to their wallet balance. With thiscard users can spend any asset in their Wallet (including US dollars) and earn $THIS rewards for each purchase.
In a recent Tweet, Brian Chesky revealed that “crypto payments” was the topmost suggestion, out of 4,000, in response to a tweet, asking, “If Airbnb could launch anything in 2022, what would it be?”.
We have secured a partnership with Synapse, which provides the underlying financial infrastructure for Mercury Bank. We will use Synapses modern fiat deposit stack and crypto wallets to store fiat and crypto, offer payment functionality, issue cards, complete KYC, and connect bank accounts.

2.3 Last Mile.

The challenge with Chat apps is that they are zero to low-margin, high-frequency platforms that users expect for free. However, Amazon has shown that managing the last mile creates the opportunity to expand the business model. Given that Chat is the last mile for social communication & organization, adding events, bookings, and payments unlocks revenue generation opportunities while adding additional value to users. The wallet functionality mentioned above is one vertical, and experiential booking is another.
Following COVID-19, the world became very remote-friendly and, in many cases, remote-first. The gig economy ballooned in parallel. As a result, many of us are no longer geographically bound nor time-restricted. This cultural shift unlocks a world of social opportunity; Monday brunch, midweek snow trips, and renting an Airbnb in Cancun for three months are now reasonable social discussions.
  1. 3.
    • 20% of stays are +28 days.
    • 50% of stays are +1 week.
    • Wi-Fi quality is a leading decision factor.
    • Monday & Tuesday are AirBnB’s fastest-growing days. The ‘I’m flexible’ button has been pressed 500m times to date.
Users currently make bookings on third-party platforms. The average commission charged by these platforms for accommodation and hotel booking is approximately 25%, not including foreign exchange/transaction fees. We believe that buying tickets and booking hotels/restaurants within the Chat ecosystem creates a better user experience and increases conversion with no additional user acquisition costs. We will partner with third-party vendors (Booking.com, Expedia, OpenTable, Resy, Livenation, etc.) initially and build out an internal inventory base over time.

2.4 Progressive Trust.

The trend towards messaging-as-a-platform epitomized by WeChat has not yet reached most of the West nor the developing world. And given that trust in large institutions and governments is at an all-time low. We believe that user-owned networks hold the key to creating multi-functional platforms that society wants to exist. To succeed long term, we need to maximize utility and liquidity. Having liquidity allows users to act at will, which inevitably leads to trust:
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    Token liquidity – ensuring that users can buy and sell the native token at will, makes the ownership valuable.
  2. 2.
    Data liquidity – having the ability to encrypt, export, delete and edit data on-demand are baseline requirements for creating a safe space for communication.