Releap Protocol successfully raises $2.1M
We’re happy to announce that we have secured over $2.1M in funding for Web3’s most scalable social graph. Releap Protocol’s scalable architectture is designed to power the upcoming wave of social applications and help build a truly decentralized web.
Releap Protocol is now backed by over 30 prominent VCs and angel investors including GBV Capital, Big Brain Holdings, Shima Capital, Sui Foundation, Arweave Foundation, Assembly Partners, DWeb3 Capital, Impossible Finance, MoveBit, Solar Eco Fund and more.
This funding is vital for Releap to continue to grow and expand its scope. Social graphs are made up of millions of users across the world, yet social graphs on Web2 are incredibly centralized, defeating the purpose of this immensely powerful network of people. Releap aims to give creators the freedom to retain ownership over the connections they have built with their audience by creating a fully customizable, user-owned social graph. Users can also utilize the protocol to easily develop their own decentralized, censorship-resistant social networks and marketplaces, or add social functionality to existing applications, with ease.
“The internet is clearly becoming less human friendly”, says Aaron, one of the core contributors of Releap Protocol. “A quick scroll on Instagram or YouTube and you can see so much of the content is created to please the algorithms, it’s no longer meant for authentic communities. Reddit’s recent decision to ban certain communities and bring in sweeping new changes has only confirmed the worries we hold about the permanence of content and communities on platforms. The industry is plagued by data monopoly and makes it impossible for newer social media platforms to establish themselves. There is an obvious need for change in the social media landscape and we wanted to build Releap to use Web3 technology to create a more user-centric social protocol.”
Since Releap’s launch in May, the protocol has grown significantly. The protocol has on-boarded over 10,000 users through the Releap App, and increased the range of utilities on the application with the introduction of Campaigns.
We’ve thoroughly enjoyed building the protocol over the last 3 months and we’re excited for more to come. In this next chapter, Releap Protocol will focus on broadening its reach and on-boarding the next billion Web3 users.
