WGFDesocial raises $20 million in seed round financing for decentralized social platform
According to the official news, WGFDesocial has completed a seed round financing of US $20 million, led by Dao venture capital. Humza Saleem, the co-founder an…
According to the official news, WGFDesocial has completed a seed round financing of US $20 million, led by Dao venture capital. Humza Saleem, the co-founder and CEO of WGFDesocial, said that WGFDesocial is a completely decentralized social platform that does not collect any user data. 60% of this fund is used for early participant air drop, 40% for WGF ecological development and team expansion. WGFDesocial ecology will be launched in Q3, All contributors who participated in the early interaction were airdropped.
WGFdesacial completed US $20 million seed round financing, and Dao venture capital led the investment
Interpretation of the news:
WGFDesocial, a decentralized social platform, has successfully raised US $20 million in seed round financing, led by Dao Venture Capital. The company aims to offer a platform where users can interact with each other in a completely decentralized manner, without worrying about any data breaches or privacy issues. According to Humza Saleem, the co-founder and CEO of WGFDesocial, the company will not collect any user data.
The funds raised from the seed round financing will be used for early participant air drop, WGF ecological development, and team expansion. 60% of the fund will be used for early participants’ air drop, while the remaining 40% will be used for ecological development and team expansion. The WGFDesocial ecology is expected to be launched in the third quarter, and all contributors who have participated in the early interaction will be airdropped.
WGFDesocial’s business model is unique as it does not rely on advertisements or data collection to generate revenue. By keeping the platform entirely decentralized, WGFDesocial aims to provide a social platform where users’ privacy is not compromised. The company plans to offer a range of features, including public channels, group chats, direct messages, and more.
The success of this seed round financing indicates that investors are interested in the concept of a decentralized social platform that prioritizes user privacy. The demand for innovative and secure social platforms has been increasing, especially since the numerous instances of data breaches and privacy concerns in recent years.
In conclusion, WGFDesocial’s successful seed round financing will enable the company to continue its efforts towards developing a decentralized social platform that offers unmatched privacy and security to users. The company’s unique business model is a step towards revolutionizing the social media industry, and it will be interesting to see how the company progresses with its ambitious plans.
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