As X (formerly Twitter), faces backlash over controversial policy changes, social media platform Bluesky is experiencing significant growth. Bluesky has welcomed over three million new users in October alone. This boost has raised Bluesky’s user base to 13 million, positioning it as a strong contender in the social media landscape.

Major funding boost for Bluesky’s expansion

Bluesky recently announced a $15 million Series A funding round led by Blockchain Capital, with additional contributions from Alumni Ventures, True Ventures and others. The funds will support Bluesky’s 20-person team and finance future developments, which include exploring revenue options beyond traditional ads. Bluesky Chief Operating Officer Rose Wang emphasized that the platform has no plans to delve into blockchain or NFTs, unlike other blockchain-funded companies.

“Our biggest costs are team and infrastructure. Subscription revenue helps us improve the app and grow the developer ecosystem,” Wang shared, noting that the funding allows Bluesky time to test other business models beyond advertisements.

Monetization options for content creators

Bluesky is also considering a subscription model for add-on features, like higher-quality video uploads and profile customizations, without adding a paid verification system like X’s. The platform aims to offer creators a new monetization path, with options for supporters to “tip” creators directly.

“We’re proud of our vibrant community of creators, including artists, writers, and developers,” Bluesky said in a statement. However, the company has not disclosed a timeline for the creator payment rollout or whether it will take a percentage of creator earnings.

The road ahead for Bluesky

With over 13 million users and a steady growth trajectory, Bluesky is becoming a viable alternative to mainstream social networks. “We’re building not just another social app, but an entire network that gives users freedom and choice,” the platform stated.