A blockchain-powered messaging application built on BNB Chain has ceased operations, underscoring the challenges faced by tokenized social platforms in balancing exclusive access with widespread user adoption.
ReachMe, which allowed users to pay in cryptocurrency to send direct messages to prominent figures like Binance founder Changpeng Zhao, announced its shutdown on its official website. The company stated user data was securely managed according to its privacy policy.
The platform gained attention for its unique model, where a single message to Mr. Zhao initially cost 1 BNB. At the time, this was equivalent to over $400 to $500.
This price was later reduced to 0.8 BNB following user complaints, according to reports. Mr. Zhao had indicated the pricing aimed to limit message volume and encourage higher quality interactions, targeting an average of 10 messages daily.
Despite its integration into the Binance ecosystem, intended to add utility to the BNB token, the market’s reaction was muted. The value of BNB saw a near 1% drop shortly after the app’s launch, suggesting broader market dynamics outweighed new use cases.
ReachMe quickly drew criticism for its perceived exclusivity and lack of transparency. Some users argued the system created a financial barrier, making it more difficult and expensive for the community to engage with influential leaders.
After an initial burst of interest, user adoption remained low. The platform’s closure illustrates the difficulty of scaling tokenized social models without compromising accessibility and fairness among users.
In contrast to ReachMe’s experience, more open decentralized social platforms have shown significant growth. A 2025 report from Delphi Digital noted a 35% increase in active wallets on such platforms over the past year.
These successful platforms are often driven by tokenized incentives and the integration of Non-Fungible Tokens (NFTs) as social tools. This trend suggests a continued demand for blockchain-based social interaction, but one that favors more inclusive and accessible approaches.
ReachMe’s failure marks the end of an attempt to redefine digital communication through a pay-to-message model. It highlights that not all innovative blockchain business models can achieve sustained success within the evolving crypto ecosystem.