Hong Kong-based Web3 social platform beoble has concluded its seed funding round, securing a total of $7 million from a diverse array of investors, including Hashkey, Samsung, DCG, DWF Ventures, Nomura Laser Digital, Cypher Capital, and Blockchain Founders Fund.
This latest funding round comes on the heels of their pre-seed announcement three months ago. The capital raised will be channeled into launching beoble V2 next month, which will introduce a range of new features. These include multi-chain integration, in-app social trading capabilities, an over-the-counter (OTC) trading function, business-to-business (B2B) integrations, and chat-based advertising.
Sung Min Cho, CEO and co-founder of beoble, expressed excitement about the recent Seed round, highlighting its role in fueling the company’s vision to revolutionize Web3 communication. He emphasized the goal of empowering individuals to interact securely and authentically, envisioning a connected world where everyone engages in a truly Web3 manner.
The demand for decentralized social media alternatives has been steadily rising. Since its beta launch in December, beoble has experienced significant growth, boasting 354,000 monthly active users and 600,000 monthly active wallets in January 2024 alone. This surge underscores the platform’s potential to address concerns about data privacy and user ownership prevalent on centralized platforms.
beoble’s focus on “SocialFi” aligns with the trend of integrating DeFi elements into social media platforms, offering users new financial opportunities beyond traditional models.
In anticipation of these developments, beoble is preparing for the launch of its native token, BBL, scheduled for February 28th, 2024. The token will facilitate various in-app activities, including B2B payments, B2C utilities like donations and social trading, NFT OTC fees, and in-app advertisements.
