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According to a press release, KCM Holdings Corp and GEENIUS, which is a Web 3.0 internet company developing a new social networking platform to bring revenue to its users, has signed an agreement, and gives GEENIUS the necessary funding it needed to launch thousands of subject specific communities.

GEENIUS is expected to bring about the “new Web 3.0 intellectual property sales economy,” which is going to take social networking beyond simple communications. With the tools already in place to allow users to build e-businesses and communities, GEENIUS will provide users with a way to sell their content.

“We have finally turned the corner from an Internet that is mainly static, to one that generates massive amounts of revenue,” says Ed Kang, COO of KCM. “Web 1.0 was all about eyeballs – there was no real revenue generating power. Web 2.0 was about user-created content, as is evidenced by YouTube and MySpace. Web 3.0 is where those same users creating content all around the world, can finally put a price tag on their content and sell it. GEENIUS turns every Internet user into an entrepreneur, and every idea into a profitable product – this is the cottage industry reinvented.”

No word yet as to when GEENIUS will get this new social networking concept going, but they are expected to become a publicly traded company by Q3 2008. I am certain more information will become available in the coming months, and when it does I will be sure to keep you informed.

Image: by WittySparks

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