Republik, an online platform for Web3 creators, recently garnered attention in the investment world. They accomplished this by successfully raising $6 million in seed funding, which ultimately valued the company at an impressive $75 million.
Notable participants within the Web3 industry contributed to this funding round. These included OKX Ventures, HTX Ventures, Arcane Group, FBG Capital, Comma3 Ventures, Sora Ventures, and 6th Man Ventures.
Moreover, this significant influx of capital represents a major milestone for Republik as they advance towards their goal of constructing a state-of-the-art platform that empowers Web3 creators with cutting-edge blockchain tools.
However, Republik serves as an online social media platform designed for the Web3 era. It uses smart contracts and blockchain technologies to facilitate frictionless engagement and earnings.
However, the company takes pride in offering users a consistent stream of rewards through their XP and RPK Token system, ensuring that users can keep a significant portion of what they earn. Currently, the platform is in its beta stage and can be accessed on Android, iOS, and web platforms.
OKX Ventures’ Commitment To Web3 & Republik Development
In addition, Republik’s CEO highlights that individuals have devoted their time, attention, and creativity to existing platforms for a significant duration, often receiving little or no compensation in return. Republik firmly commits to addressing this matter by pledging to ensure the fair distribution of the community’s value.
At the start of this year, OKX Ventures, a widely recognized cryptocurrency exchange celebrated for its substantial trading activity, introduced an upgraded version of its mobile application. However, this advancement encouraged users in Hong Kong to confidently and securely engage in spot trading of virtual assets.
Furthermore, the range of tokens available for trade in Hong Kong encompassed BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, and XLM, along with stablecoins USDT and USDC.
OKX Ventures, a prominent capital investment firm in the cryptocurrency domain, was established in 2021. Operating as the venture capital arm of OKX, headquartered in Mahe, Seychelles. According to a statement released by OKX Ventures, they firmly believe in the transformative potential of Web3 and blockchain technologies.
However, the firm is fully committed to supporting Republik’s development journey as they consider it an excellent example of these technologies’ prowess. This notable capital investment by OKX Ventures signifies a significant advancement for Republik, as creators within the Web3 landscape actively seek improved platforms to enhance their presence.
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“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”
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