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 a limited invitation-only beta version on December 2nd of this year. The platform employs advanced end-to-end encryption technology, enabling direct communication between wallets and providing users with a secure and decentralized experience.

The company recently completed a $2 million pre-seed round of financing, receiving support from several well-known institutions. This funding will be used to optimize 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, community-owned communication platform for the Web3 community. We are not just launching a product, but pioneering a new era of Web3 participation, even setting a new standard for Web2 chat platforms. We will focus on collecting user feedback and continuously improving the platform to meet user needs and our vision."

In recent years, traditional Web2 platforms have faced numerous challenges. Centralized control and advertising-driven models often compromise user privacy, and the lack of robust authentication systems has led 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 was related to traditional social media platforms, highlighting the urgency of security and transparency issues.

This new platform utilizes blockchain technology to directly associate wallets with users, enhancing trust and security, and providing users with a more reliable foundation for identity control. The platform's Communication Delivery Graph (DG) technology facilitates decentralization and user data control. Its innovative "Follow" feature not only simplifies contact list management but also offers a unique way to track and discuss wallet activities, playing an important role in verifying user identities.

In addition, the platform allows users to earn points through interaction and receive shares of the chat room based on their level of contribution. The higher the user engagement, the more shares they receive, ensuring fair distribution of chat room income (including entry fees). Points can be used to redeem future airdrops, access to premium features, or donated to other users to promote community development. The platform's "Discover" feature connects users to relevant communities through wallet analysis, further enhancing network connections within the Web3 space.

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