coindesk.com
Web 3 social graph protocol CyberConnect said Tuesday it raised $15 million in Series A funding.
CyberConnect seeks to make personal data, such as social media platform handles and followers, work across Web 3 protocols. Blockchains tend to create data siloes.
The funding round was led by Anomica Brands and Skyline Capital, and the company plans to put the funding towards building out the protocol, expanding the team and onboarding new Web 3 projects, CyberConnect CEO Wilson Wei told CoinDesk via email.
CyberConnect seeks to eliminate “moats around user data” and be more accessible to projects in the space.
“Ultimately, an open social graph lays the foundation for such identities and a truly interoperable and seamless social experience, which is the core feature of the metaverse,” said Wei.
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CyberConnect also seeks to benefit creators in terms of their cross-platform social followings. By allowing them to have follower interoperability, they can take fans across platforms to horizontally build out their brand.
“This is critical as now there’s mobility for their social capital, which they might have spent years building and could be worth way more than immediate financial incomes,” said Wei.
According to Wei, 23 projects have integrated CyberConnect, and 12 more are on the way. Project Galaxy, Mask Network and Metaforo are just a few examples of companies partnered with CyberConnect.
“Credentials with social connections are really enabling Web 3 holistic identities and a new generation of meaningful social experiences on Web 3,” Project Galaxy co-founder Harry Zhang told CoinDesk.