Business News Report
February 19, 2024

Beoble Raises $7M Funding to Elevate Web3 Messaging and Social Experience

In Brief

beoble raised $7 million funding to launch the app’s V2 and enhance web3 social media interaction, with features like multichain integration.

beoble Raises $7M Funding to Elevate Web3 Messaging and Social Experience

Web3 messaging and social platform beoble announced that it raised $7 million funding in its recent seed round. According to beoble, it will utilize the funds to launch beoble V2 next month to improve web3 social media interaction with advanced features, including multichain integration, in-app social trading and OTC functions.

The platform will launch its token – $BBL on 28th February 2024 – which can be used for all in-app activities such as B2B payments and B2C utilities like donations, social trading, NFT OTC fees and in-app advertisements, it added.

“The key to beoble V2 is being a protocol, not just an app. Compared to being just an app, being protocol has massive possibilities, as beoble can be used in multiple places like in-game chat, customer support chat, and in-dex trading chatroom,” Sung Min Cho, CEO and co-founder of beoble told Metaverse Post.

Moreover, the BBL token will serve as a versatile utility within Beoble, facilitating various functionalities such as B2B payments, entry fees for chatrooms, donations and upcoming features like Super Chat for sending $CAT with direct messages to be claimed upon reading.

“Additionally, there are plans for Over-the-Counter (OTC) transactions and social trading within group chats, along with the integration of text games and a marketplace, with more functionalities expected in the future,” said Min Cho.

Key Investors in beoble include Hashkey, Samsung, DCG, DWF Ventures, Nomura Laser Digital, Cypher Capital and Blockchain Founders Fund.

Shaping the Future of Web3 Social Media with Future-Proof Platform

Since its beta launch in December, beoble has gained a solid user base with 354,000 monthly active users and 600,000 monthly active wallets in January 2024 alone. As users shift from passive consumerism to active participation, beoble has quickly emerged as a platform that can address the users’ social media needs in a future-proof manner, evidenced by more than 21 million chats being delivered monthly.

The rise of socialFi comes at a time when skepticism towards centralized social networks is growing, and decentralized social media applications are gaining traction as viable alternatives.

Talking about this, beoble’s CEO Sung Min Cho said, “beoble is recently gaining extreme hype among web3 socialfi fans. We would want to secure this opportunity to expand our ecosystem massively. As beoble aims to become the social protocol for providing chat in multiple applications, we seek massive ecosystem expansion.”

Contrasting sharply with web2 social platforms, which are often criticized for restricting users, creators and businesses, web3 platforms have introduced a new era of innovative financial streams for users. This represents a new chapter in the evolution of cryptocurrencies and an expansion of DeFi’s reach into social media.

“Interoperability is key in web3. Everyone integrates and relies on each other, each module being universal by its features. We also aim to become a universal portion of the chat to become a single source of truth for chats and social data,” Min Cho added.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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