Web3 social project raises $2 million in funding and launches beta version

A certain Web3 instant messaging and social platform is set to launch its 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.

Recently, the project completed a $2 million pre-seed round of financing, led and participated in by several well-known investment institutions. This funding will be used to enhance user experience and improve platform functionality.

The CEO of the project 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. We are not only launching a product but also pioneering a new era of participation in Web3, 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 compromise user privacy, while inadequate authentication systems lead to a proliferation of impersonation, undermining trust among users. Additionally, these platforms are susceptible to data breaches and censorship, and they lack 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 platforms, highlighting the urgency of transparency and security issues.

This Web3 project 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.

The platform allows users to earn points through interaction, accumulating chat room shares based on active contributions. The higher the participation, the more chat room shares, ensuring that 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 awareness. The "Discover" feature connects users to relevant communities through wallet analysis, ensuring that users understand the background of their communication partners.

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