Web3 Social Company Sleek Announces $5 Million Seed Round

Crypto News
Crypto News

17 Nov 2023 5:04 PM

Hong Kong-based Web3 social company Sleek has revealed a $5 million seed round, with the fundraising valuing the company at $50 million....

  • Hong Kong-based Web3 social company Sleek has raised $5 million in a seed round, valuing the company at $50 million.
  • The funds were secured through a Simple Agreement for Future Tokens (SAFT), with participants in the funding round entitled to receive tokens upon reaching predetermined milestones.
  • Participants in the seed round included Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings.
  • Sleek's main product, Sleek Card, is a blockchain-based social media platform that allows users to connect with each other through a card and a Telegram bot.
  • The company has sold around 15,000 cards since its launch and facilitated over 300,000 connections.
  • Sleek plans to launch an open marketplace in the first half of 2024, enabling domain or subject matter experts to tokenize their knowledge and earn income from it.
  • Initially established as a no-code metaverse platform, Sleek pivoted to focus on Web3 due to the early stage of mass adoption for the metaverse.
  • The company has organically grown its community through word of mouth, with 20,000 verified users primarily acquired from events and conferences.

The article provides positive news about Sleek's successful seed round, the development of its blockchain-based social media platform, and its plans for an open marketplace. The sentiment is generally optimistic and highlights the company's growth and potential.

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You May Ask

How much funding did Sleek raise in its seed round?What type of agreement did Sleek use to secure the funds?Who were the participants in Sleek's seed round?What is Sleek Card and how does it work?What are Sleek's future plans for a marketplace and when is it expected to launch?

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