Sending Labs, a Web3 social messaging protocol, has raised $12.5 million, led by Insignia Venture Partners and others
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On February 16, BlockBeats announced that Web3 communications project Sending Labs has received $12.5 million in funding, Insignia Venture Partners, MindWorks Capital and Signum Capital led the investment, K3 Ventures, LingFeng Innovation Fund, UpHonest Capital Nuclear Aipollo Investment participated in the investment.
The company will launch two beta versions of its flagship products, of which SendingMe is its encrypted chat platform, where users can not only add followers but also monetize the projects they create through peer-to-peer exchanges, marketplaces, airdrops and NFT auctions. The platform is powered by a decentralized protocol, the project said. Another product is SendingNetwork, a software development kit for crypto application developers to build social features in the decentralized spirit of Web3, These include in-app and cross-app chat, notifications, wallet or decentralized ID (DID) logins, and NFT - and token-based transactions.
Amidst the market conditions where multiple projects have shut down and Eastern Capital is struggling, are the "a16z's" making high-profile appearances and frequent moves to buy low in the cryptocurrency industry?