Web3 social platform secures $2 million in funding and will launch a beta version

A certain Web3 instant messaging and social platform recently announced that it will launch an invite-only beta version on December 2, 2023. The platform utilizes advanced end-to-end encryption technology to achieve seamless communication between wallets, providing users with a secure and decentralized experience.

The company recently completed a $2 million pre-seed round of financing, led by several well-known investment firms. Other participants include certain capital firms, demonstrating investors' confidence in the vision and technology of the platform. This funding will be used to enhance user experience and improve platform functionality.

The company's CEO stated: "The release of the beta version is an important step for us to provide a secure, reliable, and community-owned communication platform for the Web3 community. With funding support, we are not just launching a product, but pioneering a new era of participation in Web3, even setting standards for Web2 chat platforms. We will focus on collecting user feedback and continuously improving the platform to meet user needs and our future vision."

In recent years, Web2 platforms have faced numerous challenges. Centralized control and ad-driven models often compromise user privacy, while inadequate authentication systems lead to rampant impersonation, undermining trust among users. These platforms are also susceptible to data breaches and censorship, lacking transparency in data practices and encryption methods. In the first half of 2023, the amount of fraud reached as high as $334 million, a significant portion of which originated from traditional Web2 social media platforms, highlighting the urgency of transparency and security issues.

This new platform leverages blockchain technology to directly link wallets with users, enhancing trust and security, allowing users to communicate with confidence. Its unique Communication Delivery Graph (DG) facilitates decentralization and user data control. The innovative "Follow" feature not only simplifies the contact list but also provides a way to track and discuss wallet activities, playing a key role in verifying user identities.

In addition, the platform allows users to earn points through interaction, accumulating shares in the chat room based on their positive contributions. The higher the participation, the more shares in the chat room, ensuring that the income generated by the chat room (including entry fees) is fairly distributed among members. Points can be redeemed for future airdrops, access to premium features, or donated to other users to foster community awareness. The "Discover" feature connects users to relevant communities through wallet analysis, ensuring that users are aware of their communication partners.

This emerging Web3 messaging and social platform aims to provide secure and decentralized wallet-to-wallet communication. It is designed for the Web3 community, emphasizing user privacy, security, and engagement. As a community-owned platform, it rewards active participation and contributions, redefining the way users connect and interact in the digital age.