At FintekNews, we’ve made a very definitive decision to keep this site out the political fray, other than to take a few jabs at American regulators now and then, who we feel are not moving fast enough (or smart enough) on the whole fintech phenomenon and leaving the US in the dust behind other more progressive nations. Beyond that though, we do like to report on interesting stories, and this one caught our attention simply because it made the case that there is market segmentation on just about everything these days. Apparently – and we confess we have not previously followed this – the so-call “alt-right” group has had a hard time getting postings on other crowdinvesting sites like GoFundMe, so a new site availing itself to this group has launched – Hatreon. Weird name, but apparently there are others out there already that also cater to this genre.
“Members of the so-called “alt-right” and far-right movements are looking for new ways to fund their projects.
But that’s been pretty difficult for them. The self-described “alt-right” is a white nationalist group. For the past couple months, major companies like PayPal, GoFundMe and Patreon limited access to or straight-up banned people associated with it. Oftentimes this was because users violated hate speech policies or threatened people’s lives with their projects.
As a result, banned users began searching for what they called “free speech alternatives.” In June, that search ended with the launch of crowdfunding site “Hatreon.”
Current users of the site include Richard Spencer, white nationalist and inventor of the “alt-right” moniker; anonymous news parody personality TV KWA; and “ethno nationalist” content creator Tara McCarthy. Each of them says they’ll use Hatreon to fund their content.
Some people are dubious of the service — and many took to Twitter to criticize the name.
But the criticism doesn’t faze Hatreon’s creator, Cody Wilson. He told Newsweek the name was “a delightful pun” making fun of Patreon’s hate speech investigations.
Wilson doesn’t consider himself to be part of the “alt-right,” but his projects and personal philosophies have been well-supported by the community…”
Full Story at Newsy.com