OKX and KuCoin Back Web3 Social Network UXLINK in $9M Funding Round

In a significant move for the Web3 landscape, UXLINK, a rapidly growing Web3 social network platform, has secured over $9 million in a recent funding round. This financial boost was led by prominent investors, including OKX Ventures and KuCoin Ventures, along with other strategic partners like Web3Port Foundation, Cypher Capital, and Matrixport Ventures. This influx of capital underscores the growing interest and confidence in UXLINK’s innovative approach to social networking within the decentralized web space.

Innovative Approach to Social Networking

UXLINK distinguishes itself by focusing on bi-directional, acquaintance-based social relationships, unlike traditional social platforms that emphasize one-way, follow-based interactions. This model aims to foster deeper and more meaningful connections, akin to the social dynamics seen on platforms like Facebook, but adapted for the decentralized Web3 environment.

The platform’s product offerings are divided into two main layers: the application layer and the infrastructure layer. The application layer includes modules like Social DEX (Decentralized Exchange) and UX Growth (Link to Earn), while the infrastructure layer integrates multi-layered data of acquaintance social relationships through the RWS social protocol. UXLINK is also set to launch a Social Liquidity Chain utilizing OP Stack L2 and EigenDA technologies to better support developers and third-party decentralized applications (DApps).

Rapid User Growth and Market Penetration

Since its inception in April 2023, UXLINK has achieved remarkable growth, amassing over 3.5 million verified users and facilitating the creation of more than 75,000 decentralized groups. These groups span key global markets including Southeast Asia, the Middle East, Europe, South Asia, and Africa, demonstrating the platform’s wide-reaching impact and appeal.

The platform’s rapid expansion and user engagement have drawn significant attention from the crypto community and investors alike. The successful funding round and the platform’s innovative features underscore its potential to become a leading player in the Web3 social networking space.

Strategic Importance and Future Prospects

The recent funding round not only solidifies UXLINK’s financial foundation but also reaffirms the belief of the tech and investor communities in its innovative approach to social networking. With plans to further expand its offerings and enhance its infrastructure, UXLINK aims to drive the development of the Web3 ecosystem and offer robust support for developers and third-party users.

One of the key strategic initiatives for UXLINK is the upcoming launch of the Social Liquidity Chain, which is expected to revolutionize how social interactions and financial transactions are conducted within the Web3 framework. By leveraging advanced technologies and focusing on bi-directional social relationships, UXLINK is poised to redefine user experience in the decentralized web, fostering a more connected and accessible digital future.

Conclusion

The $9 million funding round led by OKX Ventures and KuCoin Ventures marks a significant milestone for UXLINK and the broader Web3 social networking space. This investment underscores the growing confidence in UXLINK’s innovative approach and its potential to transform social interactions in the decentralized web. As UXLINK continues to expand and enhance its platform, it is well-positioned to play a pivotal role in the future of social finance and Web3 integration. The ongoing support from leading investors will be crucial in driving UXLINK’s growth and success in the evolving digital landscape.