Web3 social platform secures $2 million in funding, plans to launch a beta version

A new emerging Web3 instant messaging and social platform recently announced that it will launch an invite-only beta version on December 2nd this year. The platform employs advanced end-to-end encryption technology, enabling seamless wallet-to-wallet communication, 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 institutions. Other participants in this round of financing include several famous capital firms, demonstrating investors' confidence in the platform's vision and technology. These funds will be used to enhance user experience and improve platform features.

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

In recent years, Web2 platforms have faced numerous challenges. Centralized control and advertising-driven models often compromise user privacy, while the lack of robust authentication systems on these platforms has led to an influx of impersonation, undermining trust among users. Additionally, these platforms are 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 urgent issues of lacking transparency and security.

This new platform utilizes blockchain technology to directly link wallets with users, enhancing trust and security, allowing users to communicate confidently. The platform's unique Communication Delivery Graph (DG) promotes decentralization and user data control, contrasting sharply with the weaknesses of Web2 platforms. The innovative "Follow" feature not only simplifies the contact list but also provides a unique way to track and discuss wallet activities, playing a key role in verifying user identity.

The platform allows users to earn points through interaction, accumulating shares in the chat room based on positive contributions. The higher the participation, the more shares in the chat room, ensuring that income (including entrance 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 users understand the background of their communication partners.

This innovative platform is tailored for the Web3 community, emphasizing user privacy, security, and engagement. As a community-owned platform, it rewards active participation and contributions, redefining how users connect and interact in the digital age.