UXLINK, a pioneering social network based in Singapore, has successfully raised $9 million. This funding round saw participation from both private cryptocurrency entities and companies listed on the stock exchange, marking a milestone in the company’s journey.
OKX Ventures took the lead in this investment venture, alongside notable entities such as Web3Port Foundation, Cypher Capital, Kucoin Ventures, Gate Labs, and Matrixport Ventures. This financial boost aims to propel UXLINK towards launching an innovative project dubbed the “Social Liquidity Chain.” This initiative plans to incorporate Optimism and EigenDA technologies. The goal is to enhance support for third-party developers within the platform.
Since launching in April 2023, UXLINK has rapidly expanded its user base to over 3.5 million verified individuals. It stands out by fostering a unique blend of social finance and decentralized applications. Through its “UXGroups” on Telegram, it connects real-world trust dynamics with the digital sphere. Currently, UXLINK supports over 75,000 decentralized groups. These groups span various regions, including Southeast Asia, the Middle East, Europe, South Asia, and Africa.
Expansion Plans and Future Outlook
UXLINK’s recent funding underscores the growing interest in its innovative approach to web3 social networking. With this financial backing, UXLINK is not just aiming to enhance its existing services. The startup is also exploring additional funding opportunities ahead of its token generation event. This strategic move indicates a clear path towards expanding its influence and offerings in the web3 space.
The company’s rapid growth and the successful funding round reflect the potential of web3 technologies. They demonstrate how decentralized platforms can integrate with social finance.
As UXLINK moves forward with its plans to revolutionize the web3 social scene, the industry watches with keen interest. This funding round not only fuels UXLINK’s future projects but also reinforces the viability and appeal of web3 innovations in connecting communities across the globe.