Web3 social platform secures $2 million in funding and launches beta version

A certain Web3 instant messaging and social platform recently announced that it will launch an invitation-only beta version on December 2, 2023. The platform uses 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 led by several well-known investment institutions. This funding will be used to optimize 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 and reliable communication platform for the Web3 community, which not only ushers in a new era of Web3 participation but also sets a new standard for Web2 chat platforms.

In recent years, Web2 platforms have faced numerous challenges. Centralized control and ad-driven models often compromise user privacy, and inadequate authentication systems lead to rampant impersonation issues. Additionally, these platforms are susceptible to data breaches and censorship, lacking transparency in data practices and encryption methods. In the first half of 2023, scams triggered by social media platforms amounted to $334 million, highlighting the severity of security and transparency issues.

This Web3 platform leverages blockchain technology to directly associate wallets with users, enhancing trust and security. The platform's Communication Delivery Graph (CDG) facilitates decentralization and user data control. The innovative "follow" feature not only simplifies contact management but also provides a unique way to track and discuss wallet activities, which helps in verifying user identities.

The platform has also introduced a point reward mechanism, allowing users to earn points through interaction, increasing their share in the chat room. Active participation not only enables profit distribution but also allows redemption for future airdrops or access to premium features. The "Discover" feature connects users to relevant communities through wallet analysis, ensuring that users understand the background of their communication partners.

This innovative platform aims to provide secure and decentralized communication solutions for the Web3 community, emphasizing user privacy, security, and engagement. As a community-owned platform, it redefines the way users interact in the digital age by rewarding active participation and contributions.