New York, October 12, 2021 – Yup, the web3 social platform that rewards curators, has announced a $ 3.5 million funding round led by Distributed Global, one of the first investors in the crypto unicorns Dapper Labs, Audius and Solana. The funds will be used to further develop a new web3 native social media experience and empower curators on the web.
The funding round was also joined by major players in the space blockchain and technology, including Dapper Labs, LD Capital and various founding angels.
Yup is a social network that rewards and recognizes trendsetters for selecting content on web2 and web3 platforms like Twitter , Youtube, Opensea, Mirror and others. The protocol aims to monetize the value generated by influencers and social media users who show quality content. Most of today’s social media platforms focus on content creators first. Curators and trendsetters are often overlooked despite providing massive value to their platforms and followers.
Since its launch, Yup has distributed more than $ 1.6 million in curator rewards. They have built a particularly strong relationship with the NFT community, rewarding NFT curators over $ 300,000 with some people earning thousands of dollars in $ YUP.
“We are very excited to partner with industry leaders to build the next generation of Web3 social. Our mission is to unlock the social capital linked to people’s tastes and healing. Curators are highly underrated on web2 social media platforms and Yup plans to empower and reward them. Nir Kabessa , co-founder of Yup .
“In our opinion, the Web3 social is one of the most interesting categories and we believe that Yup is positioning itself to be a leader. ” Johnny Steindorff from Distributed Global.
«We strongly believe in bringing blockchain to everyday users. Along with the exciting growth of the NFT space, social media and NFT curation could bring the web3 to the mainstream. ” Anuke Ganegoda , Business Leader at Dapper Labs.
“Traditional social networks thrive in silos of privileged and minimally accessible user data. Your business models depend on them. Yes, as a fully open and composable Web3 social network you have the opportunity to empower the creators and visionaries of the next great social applications ”, says Alex Price , who pre-seeded Yup and He is currently Special Advisor at A16z Crypto. “I’m excited to see what kinds of feeds, interfaces, and more are built on top of Yup’s fully open social graph.”
Yup is a social network for curators that rewards users for liking and sharing content on the web. Yup was originally conceived in 2019 when its co-founders Nir Kabessa and Vernon Johnson saw an opportunity to use blockchain to solve a long-standing problem in social media: the consensus around social capital and value. The Yup Protocol provides new opportunities for curators to be paid for quality content, while also rewarding creators for producing it.
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