OP3N, a web3 social network powered by artificial intelligence, has raised $28 million in a Series A funding round.
The lead investor has reportedly been blockchain gaming operator Animoca Brands. Other participants in the funding round include Dragonfly Capital, Galaxy Digital, Republic Crypto, Avalanche's Blizzard Fund, Connect Ventures, GSR Markets, The Spartan Group, BRV Capital Management and NBA player Russell Westbrook.
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OP3N has reached a valuation of $100 million following the completion of the financing round.
Jaeson Ma, founder of the startup, describes the social network as a mix of WhatsApp and Amazon based on Web3 technologies.
He has added:
"I wanted to make a connection for creators, chats and commerce in one place. It’s a web3 version of WhatsApp meets Amazon, or WeChat meets Alibaba."
The funds received will be used to further develop the application, as well as to expand the staff.
The platform already has its own crypto wallet and a prototype marketplace for NFTs.