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Web 3 protocol for social graphs CyberConnect announced a $15 million Series A investment round on Tuesday.
CyberConnect aims to make personal data, such as handles and followers on social networking platforms, function across Web 3 protocols. Data silos are common with blockchains.
CyberConnect CEO Wilson Wei told CoinDesk via email that the fundraising round was headed by Animoca Brands and Sky9 Capital, and the company wants to use the funds to grow the protocol, expand the staff, and onboard additional Web 3 projects.
CyberConnect aims to remove "moats around user data" and make the space more available to projects.
"In the end, an open social graph lays the groundwork for such identities and a truly interoperable and seamless social experience, which is the metaverse's key characteristic," Wei said.
CyberConnect also aims to help creators grow their social media followings across platforms. They can move fans across platforms to build up their brand horizontally if they have follower interoperability.
"This is essential because now their social capital, which they may have spent years establishing and which could be worth far more than immediate money incomes," Wei explained.
According to Wei, CyberConnect has been integrated into 23 projects, with 12 more on the way. CyberConnect has partnered with a number of companies, including Project Galaxy, Mask Network, and Metaforo.
Project Galaxy co-founder Harry Zhang remarked, "Credentials with social connections are actually enabling Web 3 holistic identities and a new generation of meaningful social experiences on Web 3."
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