Web3 Revolution Unleashed: Freechat Raises $80 Million To Redefine Communication On Blockchain

In a revolutionary development, Freechat, the blockchain-based social platform, has successfully concluded a remarkable $80 million funding round, elevating its post-money valuation to an impressive $800 million.

This substantial financial backing will empower Freechat to enhance its Web3 capabilities, with a strong focus on prioritizing privacy, security, and user-managed data. The objective is to establish a decentralized, inclusive, and transparent global social network platform.

Established in 2022, Freechat has positioned itself as a pioneer within the blockchain social sphere. The successful culmination of a $2 million seed round in Aug 2022 marked the beginning of its journey.

Notably, a recent report underscores the platform’s remarkable expansion and market acknowledgment, which is evident in the substantial $80 million secured in its latest financing round.

Meanwhile, the Freechat ecosystem has various modules, spanning online chat, community operations, creator plans, short video features, and a community square. What sets Freechain apart from conventional blockchains is its function as an application-layer public chain, integrating message relays, private networks, decentralized storage, artificial intelligence (AI) computing power, and other innovative components.

Freechat’s Blockchain Brilliance: $200K Daily Transactions, 40% Retention

Moreover, the creator, Jack Long, disclosed that Freechat achieves a daily market transaction volume nearing $200,000, accompanied by a resilient 40% user retention rate. Furthermore, the platform’s commitment to user experience and data security has earned widespread market approval, which is evident in its escalating activity.

Freechat prioritizes user data authenticity and uniqueness by implementing device fingerprint technology and ongoing software and hardware security function enhancements. Simultaneously, Jack Long’s revelation of strategic Bitcoin reserves, with a floating profit of nearly $2.2 million, establishes a robust financial base for Freechat’s expansion into global markets.

Moreover, Jack Long foresees Freechat achieving a yearly revenue of $40 million by 2024. The platform intends to introduce a Creator Incentive Program, incentivizing creators across different content formats.

Simultaneously, as Freechat extends invitations to creators worldwide to become part of its ecosystem, the objective is to offer users an elevated sense of freedom and a richer online social experience. The trajectory of Freechat marks a revolutionary change in decentralized social networking.

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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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