Web3 social platform secures $2 million in funding and will 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 2, 2023. The platform utilizes advanced end-to-end encryption technology, enabling seamless wallet-to-wallet communication, and 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. 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, community-owned communication platform for the Web3 community. With the support of the new financing, we are not just launching a product, but pioneering a new era of Web3 participation, even setting a benchmark for Web2 chat platforms."

In recent years, Web2 platforms have faced numerous challenges. The centralized control and advertising-driven model often undermine user privacy, and the lack of strong identity verification systems has led to rampant impersonation, along with risks of data breaches and censorship. 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 lack of transparency and security that need to be addressed.

This new platform utilizes blockchain technology to directly link wallets with users, enhancing trust and security. Its unique Communication Delivery Graph (DG) promotes decentralization and user data control. The platform's "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 positive contributions. The higher the participation, the more shares in the chat room, ensuring fair distribution of income 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, further enhancing network connections in the Web3 space.

This emerging platform is tailored for the Web3 community, emphasizing user privacy, security, and engagement. As a community-owned platform, it redefines the way users connect and interact in the digital age by rewarding active participation and contributions.