Social platform OP3N secures $100 million valuation in Series A funding round: TechCrunch
Quick Take
- Social platform OP3N raised $28 million in a Series A funding round led by Animoca Brands.
- The new fundraise brings the startup’s valuation to $100 million, according to report from TechCrunch.
Social platform OP3N raised $28 million in a Series A funding round led by Animoca Brands, according to a report from TechCrunch.
The fundraising efforts bring the startup's valuation to $100 million, the report said. Other investors that participated in the round include Dragonfly Capital, Galaxy Digital, Republic Crypto and New Enterprise Associates’ Connect Ventures.
Op3n's founder Jaeson Ma described the social platform as "web3 WeChat" in an interview with The Block last year. It's user interface is similar to TikTok and it aims to make it easier for creators to use web3 technology to interact with fans. It's core product is SuperApp, a chat-based app.
The singer Grimes secured funding, as part of a $100 million creator fund known as the Culture Catalyst initiative, to create an "intergalactic childrens' metaverse book" on the platform.
The startup, founded in 2021, previously raised $10 million in a seed round led by Galaxy Interactive and BRV Capital Management. Ma was previously the co-founder of 88rising, a music label that helped Asian artists cross over to the US.
The funds will be used to further develop the application and grow the leadership, said Ma in an interview with TechCrunch.
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