Hong Kong’s beoble, a leader in the Web3 social media space, recently secured a substantial $7 million investment from a group of prominent investors. This financial boost includes backing from Hashkey, Samsung, DCG, DWF Ventures, Nomura Laser Digital, Cypher Capital, and Blockchain Founders Fund. This funding signals strong market confidence in the potential of blockchain-based, decentralized social networks.
New Funding to Enhance User Experience
The capital injection is set to propel the development of beoble V2, a more advanced version of the platform. With the inclusion of multi-chain support, in-app social commerce, over-the-counter trading, and business integrations, beoble aims to set a new standard in the social media domain.
Sung Min Cho, CEO and Co-founder of beoble, expresses the investment as a reinforcement of their mission to innovate in the Web3 communication sphere. Cho envisions a world where individuals can connect and interact through a truly decentralized social network.
The Rise of Decentralized Social Networking
Beoble’s rapid ascendancy is evidence of a growing appetite for decentralized social media platforms. By January 2024, the platform boasted 354,000 monthly active users, demonstrating the public’s increasing concern for data privacy and control over their social media interactions.
The platform’s “SocialFi” strategy merges DeFi components with social networking, presenting users with economic incentives not seen in conventional social media models. Beoble is also set to roll out its native token, BBL, to facilitate various in-app transactions, showcasing its commitment to a unique and robust Web3 ecosystem.