– Orb Technology has raised $2.3 million in a pre-seed funding round for Lens Protocol-based web3 social app Orb.
– Investors in the round included Superscrypt, Founders, Inc., Foresight Ventures, Aave Companies, Stani Kulechov, and Sandeep Nailwal.
– Orb is a community-focused web3 social app with chat and communities features.
– It was initially started as a professional network powered by on-chain credentials, but later pivoted to its current focus.
– The app has gained significant traction, with tens of thousands of users trying it out.
– Orb’s communities feature is built on the ERC-6551 standard with Token Bound Accounts, allowing for digital ownership.
– The company plans to develop new social experiences on-chain and expand its team size.
Orb Technology, the developer behind the Lens Protocol-based web3 social app Orb, has raised $2.3 million in a pre-seed funding round. The investors included Superscrypt, Founders, Inc., Foresight Ventures, Aave Companies, Stani Kulechov (founder of Aave Companies and Lens Protocol), and Sandeep Nailwal (co-founder of Polygon). The funding round, which started in March and closed in May, did not have a lead investor. The valuation of Orb was not disclosed.
Orb is a community-focused web3 social app that offers features such as chat and communities. The chat feature allows users to connect and communicate with friends, while the communities feature enables users to join groups with like-minded individuals. Orb started as a side project during the Graph Day event in San Francisco in June 2022 and gained traction among Lens users. Initially, it aimed to be a web3 version of LinkedIn powered by on-chain credentials but pivoted in November 2022. Orb came out of closed beta in December 2022.
The app has garnered tens of thousands of users and is one of the leading users of ERC-6551. Orb’s communities feature is built on the ERC-6551 standard with Token Bound Accounts, allowing each NFT to have its own smart contract wallet. Orb has received over 400 requests for new communities, with over 5,000 users generating 15,000 publications and 150,000 reactions within the communities.
With the new funding, Orb plans to develop new social experiences on-chain that combine commerce, content, and communication. The company also aims to expand its team by hiring primarily mobile developers and designers.
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