Web3 social platform secures $2 million in funding, will launch a private beta.

A new emerging Web3 instant messaging and social platform recently announced that it will launch an invite-only beta version on December 2nd. The platform utilizes advanced end-to-end encryption technology to enable direct 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 institutions. This round of financing also attracted the participation of some famous venture capital firms, demonstrating investors' high recognition of the platform's vision and technology. The funds 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. With the support of the new funding, we are not just launching a product, but also creating a new era of participation in Web3, even setting a new standard for Web2 chat platforms. At the launch of the beta version, we will focus on collecting user feedback to ensure the platform continues to optimize, meets user needs, and realizes our future vision."

In recent years, Web2 platforms have faced numerous challenges. Centralized control and advertising-driven models often compromise user privacy, while the weakness of verification systems has led to a proliferation of 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 serious issues of current transparency and security deficiencies.

This new platform utilizes blockchain technology to directly link wallets with users, enhancing trust and security, allowing users to communicate confidently. The platform's Communication Delivery Graph (DG) promotes decentralization and user data control, in stark contrast to 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 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 that any 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 spirit. The "Discover" feature connects users to relevant communities through wallet analysis, further enhancing network connections in the Web3 space.

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