UXLINK Raises Over $9M In Funding To Revolutionize Web3 Social Networking

In a significant development in the Web3 sector, UXLINK, a rapidly expanding social platform and infrastructure, has successfully secured over $9 million in a new funding round. This investment round saw participation from a diverse group of investors including OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame (0484.HK), ECV, Signum Capital, 7UPDAO, and several industry leaders. Additional backers such as HongShan Capital, GGV Capital, MatrixPort Ventures, and ZhenFund have also been identified as investors in UXLINK according to Singapore Corporate Information.

With a unique approach to social interaction in the digital realm, UXLINK distinguishes itself by focusing on bi-directional, acquaintance-based social relationships. This strategy marks a departure from the traditional one-way following model seen in other social infrastructures. The platform is designed to foster mutual promotion through its two-layer structure: the application layer featuring Social DEX module and UX Growth (Link to Earn) module; and the infrastructure layer which incorporates unique data integration and RWS social protocols. Furthermore, UXLINK plans to introduce an innovative Social Liquidity Chain that leverages OP Stack L2 and EigenDA technologies to enhance support for developers and third-party Dapps.

Since its launch in April 2023, UXLINK has experienced remarkable growth, amassing more than 3.5 million verified users within just 10 months. The platform now hosts over 75,000 decentralized groups, reaching an audience of more than 6 million users across various regions including Southeast Asia, the Middle East, Europe, South Asia, and Africa.

The success of UXLINK can be attributed to its innovative approach to social networking in the Web3 space. Drawing parallels with the impact of platforms like Facebook and WeChat during the Web1.0 and Web2.0 eras, UXLINK aims to serve as a foundational infrastructure for mass adoption in the Web3 era. This ambition is supported by its diverse investor base that spans North America, Asia, and the Middle East and includes both crypto exchange investors and strategic investors from publicly listed companies.

Looking ahead, there is anticipation within the UXLINK community for another round of funding before its Token Generation Event (TGE). This potential move underscores the platform's strong market position and investor confidence in its future growth prospects.

For more information on UXLINK and its offerings, interested parties can visit their official website or follow them on social media platforms such as Twitter and Telegram.