REPUBLIK Secures $6 Million in Seed Funding
REPUBLIK, the Singapore-based technology company, proudly announces the successful conclusion of its $6 million seed funding round. This achievement signals a pivotal moment for the company, highlighting its commitment to revolutionizing the digital landscape.
The funding round witnessed participation from influential investors, showcasing the industry’s trust in REPUBLIK’s vision. Notable backers include 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 capital infusion from the funding round will develop REPUBLIK’s platform. Their focus lies in creating cutting-edge web3 creator tools on the blockchain. Currently accessible in beta form across web app, iOS, and Android platforms, REPUBLIK has already generated considerable traction, offering creators innovative ways to engage with their audience. Unlike conventional social platforms, REPUBLIK employs Web3 technologies to streamline the entire process, drastically reducing costs for content creators. This, in turn, allows creators to retain a substantially larger portion of their earnings. Additionally, REPUBLIK introduces a token-based reward system that facilitates earning for interactions with content, referring friends, and supporting fellow creators.
Community Value
In stark contrast to legacy platforms that capitalize on user attention without offering direct compensation, REPUBLIK firmly believes in recognizing the immense value within online communities and ensuring that it distributes this value fairly to the individuals who contribute to its creation. REPUBLIK introduces “XP” within the app to gauge the value a user brings, while “RPK” serves as a freely traded token representing the community’s value. The more “XP” a user accumulates, the greater the distribution of “RPK” to them.
Daniel He, CEO of REPUBLIK, expressed his enthusiasm about their vision, stating,
“For too long, people have invested their time, attention, and creativity into existing platforms with meager returns. REPUBLIK is poised to change this by fostering a community-owned platform. We’re delighted to have investors who share in our vision and partners who are instrumental in our mission to reshape the digital landscape.”
