Isaac Hayes III is making a mark in the tech industry and shifting the culture with his new app, Fanbase. The songwriter, producer, and now tech genius founded an app for creatives to have a portal to profit their talent, work, and experience.
Fanbase is a subscription-based social media platform that enables all content creators to monetize their content and amplify their brands by gaining subscribers, who can donate money in the form of “loves” that they purchase on the platform’s subscription store.
Hayes is the first black man to raise over $3.5 million in investments in a Reg CF campaign exceeding the original goal of 2.6 million dollars. Nearly 5,000 investors bought shares in the app’s seed round tech startup, including Charlamagne Tha God, Snoop Dog, and “Real Housewives Atlanta” star Kandi Burrus.
As of January 2022, Hayes has raised over $4 million in seed funding via StartEngine. Instead of attracting big-money investors, Hayes raised money in microdonations. “I chose this route because founders of color are overwhelmingly denied access to capital from Venture Capital,” he said. “Also, users are the economic engine of social media platforms. Who better to have equity in the platform than the users that will make it successful. Rather than the same 3000 people that always get these opportunities.”
Fanbase was founded in his home base of Atlanta in 2019 and has almost 50,000 users. Hayes understood the importance of long-term content monetization after managing the name, image, likeness, and publishing catalog of his soul icon father, Isaac Hayes.
“Fanbase is the first of its kind,” said Hayes. “Fanbase allows you to have followers and subscribers on the same page. We are in the subscription era. If you’re not charging for your content in some way, you’re leaving thousands on the table every month.” The platform offers a $3.99 monthly subscription for viewers to subscribe to their creatives and gain access to their exclusive content.
The app also has a feature called Direct Voice audio chat, similar to Club House. However, this is the first audio chat platform that allows speakers to earn money.
Fanbase is currently available to download in over 170 countries for free on the Apple App Store and Google Play Store.