Web3 social platform secures $2 million in funding, testing version to launch by the end of the year

A new emerging Web3 instant messaging and social platform recently announced that it will launch an invitation-only beta version on December 2 of this year. 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 funding round, with investments from several well-known institutions. This funding will be used to enhance user experience and improve platform functionality. The company's CEO stated that the release of the beta version is an important step in providing a secure, reliable, community-owned communication platform for the Web3 community. Their goal is not only to launch a product but to usher in a new era of Web3 participation and even set new standards for Web2 chat platforms.

In recent years, Web2 platforms have faced numerous challenges. Centralized control and ad-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 vulnerable to data breaches and censorship, and they lack transparency in data practices and encryption methods. According to statistics, the amount of fraud in the first half of 2023 reached as high as $334 million, a significant portion of which originated from traditional Web2 social media platforms, highlighting the urgency of issues related to transparency and security.

This new platform utilizes blockchain technology to directly associate wallets with users, enhancing trust and security, enabling users to communicate with confidence. The platform's uniqueness lies in its Communication Delivery Graph (DG), which promotes decentralization and user data control. The innovative "Follow" feature not only simplifies contact list management but also provides new ways to track and discuss wallet activities, playing a key role in verifying user identities.

Additionally, the platform allows users to earn points through interaction, accumulating chatroom shares based on positive contributions. The higher the participation, the more chatroom shares, ensuring fair distribution of income (including entry fees) among members. Users can redeem points for future airdrops, access to premium features, or donate to other users to foster community awareness. The "Discover" feature connects users to relevant communities through wallet analysis, further enhancing networking within the Web3 space.

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