OKX, KuCoin back web3 social network UXLINK in $9m funding round

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Web3 social community UXLINK revealed that it has raised $9 million in a funding spherical supported by personal crypto and publicly listed firms.

Singapore-headquartered web3 social startup UXLINK has attracted $9 million in capital from a gaggle of buyers as its person base has reached 3.5 million customers.

In response to a press launch shared with crypto.information, UXLINK secured funding from a gaggle of buyers led by OKX Ventures. Different buyers like Web3Port Basis, Cypher Capital, Kucoin Ventures, Gate Labs, and Matrixport Ventures additionally participated within the funding. Nonetheless, the valuation of the startup following the funding spherical was not disclosed.

“This progressive idea merges social networking and transactions, creating a sturdy ecosystem the place folks can absolutely leverage their digital belongings.”

OKX Ventures Founder Dora Yue

UXLINK added it might search additional funding previous to its token era occasion, reflecting the continuing curiosity in its development trajectory. With the proceedings, UXLINK plans to launch the so-called “Social Liquidity Chain,” which might make the most of Optimism and EigenDA applied sciences to assist third-party developments.

Since its inception in April 2023, UXLINK has reportedly amassed over 3.5 million verified customers and boasts greater than 75,000 decentralized teams throughout Southeast Asia, the Center East, Europe, South Asia, and Africa. The startup mainly doubles down on a brand new method to social finance, bridging real-world belief dynamics with decentralized functions by means of its web3 “UXGroups” on Telegram.

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