REPUBLIK, a global technology company building new ways for people to interact, recently announced the successful conclusion of its $6 million seed funding round. The funding round also saw participation from leading investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management.
The funding round is instrumental in building REPUBLIK’s platform and developing cutting-edge, web3 creator tools on the blockchain. And currently in beta across web app, iOS, and Android platforms, REPUBLIK has garnered substantial traction, empowering creators with new ways to interact and get rewarded for their contributions to the platform.
Unlike traditional social platforms – where monetization options are fragmented and often come with high fees, REPUBLIK uses Web3 technologies to streamline the entire process – drastically reducing costs borne by Creators. This results in Creators keeping a larger share of their earnings but also enables a token-based reward system that allows everyone to earn for interacting with content, referring friends and supporting Creators.
As legacy platforms capitalize on user attention without direct compensation, REPUBLIK believes online communities have great value and that this value should be fairly distributed to the people who helped create it. XP in the app represents how much value a user brings while RPK is going to be a freely traded token representing the value of the community. The more XP a user has, the more RPK is going to be distributed to them.
KEY QUOTE:
“For too long people have given their time, attention and creativity to existing platforms for almost nothing in return. REPUBLIK is going to change that by ensuring that the value of the community is fairly distributed. We’re excited to have investors who share in our vision and partners that are helping us build a true community-owned platform.”
— Daniel He, REPUBLIK’s CEO
