Web3 social platform raises $2 million in funding and will launch a beta version in December

A certain Web3 instant messaging and social platform recently announced that it will launch a beta version available only to invited participants on December 2, 2023. The platform utilizes 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 financing round, led by several well-known investment institutions. Other notable capital firms also participated in this round of financing, demonstrating investors' confidence in the platform's vision and technology. 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 newly acquired funding support, we are not just launching a product, but also creating a new era of Web3 participation, even setting new standards for Web2 chat platforms. At the launch of the beta version, we will focus on collecting user feedback to ensure the platform continuously improves to meet user needs and our vision for the future."

In recent years, Web2 platforms have faced numerous challenges. Centralized control and ad-driven models often compromise user privacy, while the lack of robust authentication systems has led to rampant impersonation, undermining trust among users. Furthermore, these platforms are susceptible to data breaches and censorship, lacking transparency in data handling and encryption. In the first half of 2023, the amount of fraud reached as high as $334 million, a significant portion of which was related to traditional Web2 social media platforms, highlighting the urgency of transparency and security issues.

This emerging Web3 platform utilizes blockchain technology to directly associate 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 the weaknesses of Web2 platforms. Its innovative "follow" feature not only simplifies the contacts list but also provides a unique way to track and discuss wallet activities, playing a key role in verifying user identities.

The platform also allows users to earn points through interaction, accumulating chat room shares based on positive contributions. The higher the participation, the more chat room shares, ensuring that income (including entry fees) is fairly distributed among members. Points can be used to redeem future airdrops, access to premium features, or donated to other users to foster community awareness. In addition, the "Discover" feature connects users to relevant communities through wallet analysis, further enhancing network connections in the Web3 space.

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