coindesk.com
CyberConnect, a protocol making social media profiles interoperable across Web3, is launching a Web3 social networking platform called Link3, the company announced Tuesday in a press release.
CyberConnect’s inaugural product, Link3 utilizes blockchain technology to create a secure, decentralized network with verified identities. The company’s CEO, Wilson Wei, called it “LinkedIn for Web3.”
“Cyberconnect’s mission is to connect everyone on Web3,” Wei told CoinDesk in an email. “We found that a trusted identity network is the foundation for building more meaningful connections.”
But it’s not just about creating identities: the product also seeks to protect users from social media-related fraud.
Fifty percent of crypto scams over the past year occurred from faulty advertisements or bad actors in users’ direct messages, according to CyberConnect’s press release.
Link3 will provide users a profile with a verified identity to ensure they’re connecting to trustworthy people, says Wei. It will also allow users to select who can send them messages regarding payments or digital assets.
Link3 plans to work with Decentralized Autonomous Organizations, or DAOs, to better facilitate identity confirmation and community establishment. Wei said that with identity verification, “DAOs could leverage their community resources and engage with members in much more diverse, tailored and productive ways.”
CyberConnect currently has 30 partnering projects, with over 1.5 million users and 21 million connections within the social graph protocol, according to Wei.
In May, the company raised $15 million in Series A funding led by Animoca and Sky9 Capital.
The Alpha 1.0 version of Link3 goes live today for users with whitelisted addresses or verification codes. The product will launch to the public by the end of this year.