Web3 social platform secures $2 million in funding and will launch an encryption communication beta version

A platform focused on Web3 instant messaging and social networking recently announced plans to launch an invite-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 round of financing, receiving support from several well-known investment institutions, demonstrating investors' confidence in its vision and technology. This funding will be used to enhance user experience and improve platform capabilities.

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 new funding, we are not only launching a product but also ushering in a new era of Web3 participation, even setting new standards for Web2 chat platforms. We will focus on collecting user feedback and continuously improving the platform to meet user needs and future vision."

In recent years, Web2 platforms have faced numerous challenges. Centralized control and ad-driven models often undermine user privacy, while inadequate authentication systems have led to rampant impersonation, weakening trust among users. Furthermore, these platforms are 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 urgency of issues related to transparency and security.

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, contrasting sharply with Web2 platforms. Its 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.

The platform has also introduced a points reward mechanism, allowing users to earn points through interaction and receive shares in the chat room based on their contributions. The higher the participation, the more shares are obtained, ensuring that the income generated from the chat room (including entrance 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 platform's "Discover" feature connects users to relevant communities through wallet analysis, further enhancing network connections in the Web3 space and ensuring that users are always informed about the status of their communication partners.

This emerging Web3 messaging and social platform is dedicated to providing 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 community-owned platform that rewards active participation and contributions.