Beoble Raises $2 Million Pre-Seed Funding from DCG and Samsung NEXT, Announces Beta Launch

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Published: November 14, 2023 at 9:00 am Updated: November 14, 2023 at 9:01 am

In Brief

Beoble raised $2 million pre-seed funding round led by DCG and Samsung NEXT to beta launch its Web3 messaging platform on December 2, 2023.

Web3 messaging and social platform beoble today revealed plans for its exclusive beta launch scheduled for December 2, 2023. The beta launch announcement is comes after the platform’s recent successful $2 million pre-seed funding round led by DCG and Samsung NEXT as investors. Other prominent investors included Hashkey Capital and GBV Capital.

Beoble asserts that the messaging platform will offer advanced end-to-end encryption and secure wallet-to-wallet communication for decentralized connectivity. The company said the new funding will be utilized to elevate user experience and refine platform features.

“Web3 users are often unable to communicate with each other using their on-chain identity. In traditional chatrooms, contributors (e.g., alpha sharers, and community ambassadors) are not properly rewarded for their services to the community and contribution to the growth,” Sung Cho, CEO of beoble told Metaverse Post. “More than just a messaging service, we aim to fairly reward the community based on their contribution for the first time as a chat service, which makes us even more unique as a SocialFi project.”

For its invite-only beta launch, beoble said that it will be rewarding users with CAT Points airdrop, with early joiners having opportunity to contribute to deciding direction and future features. Moreover, inviting other users will also be rewarded with points plus a percentage of the total points earned by the invitee.

“The Beta launch serves as an opportunity for early contributors to join our community and play a part in shaping the Web3 messaging space,” added beoble’s Sung Cho. “The rewards mechanism which is geared toward early content creators and chatroom engagers in beoble, aligned with our long-term goal to become ‘The Web3 Chat App’.”

Strengthening Identity Control Through Blockchain Technology

Beoble believes that in recent times, web2 platforms have grappled with substantial challenges, including centralized control and ad-driven models compromising user data — leading to heightened privacy concerns. The absence of a robust identity verification system has given rise to issues of impersonation, eroding user trust.

Furthermore, susceptibility to data breaches, censorship and a lack of transparency in data practices and encryption methods have plagued these platforms. This becomes especially critical, considering that messaging platforms accounted for a significant portion of the $334 million scammed in the first half of 2023.

Beoble said it aims to address these challenges by leveraging blockchain technology to establish a robust foundation for identity control, directly linking wallets to users. The platform has introduced Communication Delivery Graph (CDG) to promote decentralization and user data control.

Likewise, the ‘follow’ feature aims to streamline contact lists and facilitates the tracking and discussion of wallet activities, playing a pivotal role in verifying user identities.

“Beoble’s CDG ensures privacy in terms of content (the chat content itself) & delivery path (i.e., who sent it and who received it). CDG makes sure that the delivery path, i.e., a path where a single beoble message is delivered within the nodes, is set up in a manner wherein each node only knows the next destination of delivery, ensuring that privacy is preserved and instilled at each step of the way,” beoble’s Sung Cho explained to Metaverse Post.

Sung Cho further added that after analyzing an individual’s wallet activities, beoble will automatically include them in the ‘token holders’ room’ and ‘NFT holders’ room’ for tokens and NFTs already held by the individual. Therefore, users do not need to manually look up and join rooms which interest them individually.

The platform has introduced a reward system where users earn points based on interactions, accumulating shares in chatrooms proportional to their contributions. These shares translate into equitable distribution of any generated revenue, including entrance fees, among chatroom members.

Points earned can be redeemed for future airdrops, access to premium features, or donated to foster a sense of community. The ‘discover’ feature streamlines networking by connecting users to relevant communities through wallet analysis, so that users are consistently informed about their communication partners.

“Users can use the token/transaction rules to filter spammers or scammers from DM-ing you or inviting you to unwanted group chats,” said beoble’s Sung Cho. “The methodology is similar to the token-gated group chats, wherein you can set up filters such as “only someone with at least 0.5 ETH in their wallet and 20 transactions can send me DMs”, thereby preventing spammers/ scammers from interacting with you.”

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Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master’s degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends.
He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

Victor Dey