Web3 social platform secures $2 million in funding, launches encryption communication beta version

A certain Web3 instant messaging and social platform recently announced that it will launch a limited invitation test version on December 2, 2023. The platform uses advanced end-to-end encryption technology to enable 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. Also participating in this round of financing were multiple capital firms, demonstrating investors' confidence in the platform's vision and technology. These funds will be used to enhance user experience and improve platform functionalities.

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 the support of new funding, we are not only launching a product but also pioneering a new era of Web3 participation, even setting a standard for Web2 chat platforms. We will focus on gathering user feedback to continuously improve the platform to meet user needs and our future vision."

In recent years, Web2 platforms have faced numerous challenges. The centralized control and advertisement-driven model often undermines user privacy. The lack of effective authentication systems has led to a proliferation of impersonation, weakening trust among users. These platforms are also vulnerable 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 need to address the issues of lack of transparency and security.

This new platform utilizes blockchain technology to directly associate wallets with users, enhancing trust and security, allowing users to communicate confidently. Its unique Communication Delivery Graph (DG) facilitates decentralization and user data control. The platform's 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 identities.

In addition, the platform allows users to earn points through interactions, 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 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 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 specifically for the Web3 community, emphasizing user privacy, security, and engagement. As a community-owned platform, it rewards active participation and contribution, redefining the way users connect and interact in the digital age.