Social Finance

<p>Hong Kong-based startup Sleek has successfully raised $5 million in seed funding to advance its Web3 social networking platform, aiming to further the ownership economy and introduce blockchain-powered social media accessible to a broad audience.</p><h2 id="header-0">Incentivized networking through ‘SocialFi’</h2><p>Officially launched in April of this year, Sleek aspires to reshape human connections by simplifying networking, infusing a sense of fun and fostering productivity. The platform provides users with an expansive environment where they can exchange information, connect with new contacts and participate in incentivized networking through innovative Web3 social finance (SocialFi) business models.</p><p>In essence, SocialFi employs blockchain technology with the objective of monetizing social interactions. The concept has come to broader attention in recent months as a consequence of the emergence of Friend.tech, a novel way for creators to monetize content, by way of tokenizing attention. Sleek enables users to directly monetize their content and social capital, emerging as a new generation of creators within the Web3 landscape. Sleek Co-Founder Chase Guo <a href="https://www.theblock.co/post/263450/binance-labs-web3-social-sleek-seed-token-round-valuation" rel="noopener noreferrer nofollow">explained</a> to The Block how it differs from other Web3 social networks:</p><p>“Most of the time, this strategy [bootstrapping a platform using tokens or incentives] does not result in unique content generation and sustainable growth. People are here for the airdrop and leave once they cash out. Sleek took a very different approach — build a real use case first with die-hard fans.”</p><h2 id="header-1">Sleek Card</h2><p>At the forefront of Sleek’s offerings is its flagship product, Sleek Card, specifically designed to empower Web3 professionals in face-to-face networking. Each Sleek Card generates a blockchain wallet and a decentralized identity for users, streamlining the onboarding process into the Web3 space.</p><p>Utilizing NFC technology and a proprietary messaging bot, Sleek Card allows users to capture data and manage contacts, resulting in robust on-chain social graphs. Notably, Sleek Card has facilitated over 300,000 connections, establishing itself as a key player in the Web3 landscape. The platform has also formed strategic partnerships with prominent entities such as Solana Hacker Houses, Coinfest, Digital Art Fair and NFTNow, bringing innovative event experiences to life.</p><p>Both of the startup’s founders <a href="https://chainwire.org/2023/11/17/sleek-the-web3-social-network-raises-us5m-to-power-the-ownership-economy/" rel="noopener noreferrer nofollow">spoke</a> about the body of work Sleek is involved in. Co-Founder Tania Tse stated:</p><p>“We are launching monetization models in our platform that are only possible through the blockchain, so talented creators from various verticals who don’t have a full team supporting them can earn sustainably.”</p><p>Chase Guo added: “Leveraging our own experiences and lessons learned, we are building applications alongside our users to power the future of Web3 social.”</p><p>Looking ahead, Sleek plans to unveil an open marketplace in the first half of 2024, empowering domain experts to become creators by tokenizing their knowledge into liquid and accessible assets. This strategic move aligns with Sleek’s vision for a more equitable, user-centric and transparent digital social landscape.</p><h2 id="header-2">Broad industry backing</h2><p>Sleek’s investor roster includes well-known names such as Shima Capital, Spartan Group, Symbolic Capital, Genblock Capital, Big Brain Holdings, Market Across, Emirates Consortium, Arkstream, Perridon, GBV and various angel investors. Notably, Binance Labs, the venture capital arm of Binance, invested in Sleek through the Binance Labs Incubation Program in 2022.</p>

Sleek Secures $5M seed funding to propel Web3 social networking offering

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