PodToo Announces 5% of Gross Profits will go to PodFund

PodToo proudly announces a groundbreaking initiative as the first podcast hosting provider to directly support the community of Podcast 2.0 app developers. These developers are at the forefront of creating earning opportunities for podcast creators, and PodToo is committed to fostering this innovative ecosystem.

“As a developer, I know how crucial early support can be. PodToo wouldn’t be where it is today without the belief and backing of early clients like Noisehouse. It’s now our responsibility to give back to the open podcast ecosystem, supporting the developers who help keep it thriving.” - Russell Harrower, CEO of PodToo

We’ve observed steady growth in the crypto version of V4V, reflecting the community’s resilience and adaptability. While the ecosystem faces challenges, like evolving wallet provider policies and tighter government regulations, the innovative solutions being developed aim to enhance user experience without compromising the decentralized ethos. The fluctuation in BTC value also highlights the dynamic nature of the space, presenting both risks and opportunities for users.

Value 4 Value, however, is more than just crypto. PodToo sees the value in an open ecosystem of players, where no creator is deplatformed for their views, and communication and ideas flow freely. We believe in driving the Podcast Industry forward by improving the technology that ultimately supports small, hobbyist podcasters in taking the next step in their podcasting careers.

“I have seen first hand Podcast app developers be vocal about the fact that there is no money in developing an app.” - Russell.

Podcast 2.0 Player apps are already seeking support through various channels—whether it’s a donate button on sites like PodLP, sponsor links on GitHub like PodVerse, or reaching out to friends and family like Truefans. At PodToo, we believe that by backing talented developers and apps in the Podcast 2.0 Player space through PodFund, we can collectively foster growth and ensure that the podcast industry remains open and accessible to everyone.

“Today we take 1% on all transactions but at low volumes that is not profitable or sustainable. We are seeking external funding to extend our runway.” - Sam Sethi, CEO of Truefans (https://podcastindex.social/@samsethi/113069651165691108)

“The monies we receive from the PodFund will be used to give SATs to new users in their TrueFans wallets as they complete their onboarding tasks.” - Sam Sethi, CEO of Truefans

PodToo is committed to transparency, so we’ll publish our income and expenses each month on the PodFund page, making it accessible for anyone to view.

We will contribute 5% of our gross profits to Podcast 2.0 Player apps that implement five or more Podcast 2.0 features. The more Podcast 2.0 features your application supports, the larger the share of the PodFund by PodToo you’ll receive.

Who is not eligible for the PodFund? PodToo’s PodFund is exclusively for player applications. Players that also function as hosts are excluded from our PodFund, as these applications/developers have other revenue streams and may have a conflict of interest in promoting their own player over others in the Podcast 2.0 ecosystem.

How will payments reach the apps? Developers can fill out a form on the PodFund page to specify their payment method (BTC, ETH, PayPal, or Stripe). Payments will be sent monthly. PodToo won’t withhold funds, ensuring the PodFund’s purpose is fulfilled. Payment breakdowns will be public.

What is the minimum amount that PodToo PodFund will donate each month? The PodToo PodFund guarantees a minimum contribution of AUD$100 each month. Currently, based on our income and expenses. Currency exchanges will be conducted through Airwallex.com (our bank), and we’ll publish the exchange data alongside the fund details.

Are there any conditions? We aim to build stronger relationships with podcast players, fostering communication beyond content distribution. Our goal is to see all players succeed and grow by implementing developer suggestions and advocating for features our creators want. This is not an investment, loan, or donation. For accounting purposes, payments will be categorized under marketing but excluded from expenses.

Developers interested in joining the PodFund can visit https://podtoo.com/podfund for more details and to apply.