Freechat Successfully Raises $80 Million to Enhance Web3 Features

The blockchain-driven social platform Freechat has finalized a funding round, securing $80 million, which boosts its valuation to a notable $800 million. Yet, the specific details about the involved investors remain under wraps. funding Established in 2022, Freechat had previously garnered $2 million during a seed funding round in August of that year. With this latest investment, the platform is poised to robustly enhance its offerings and evolve into a decentralized global marketplace.

Significant advancements have already been noted within the Freechat community. In addition to its foundational community operations, the platform has rolled out new features like a creator plan, a short video module, and a community square. Web3 This expansion aims to offer users a rich and diverse experience while upholding the core principles of Web3 — an open, unrestricted, and secure social environment.

At the core of Freechat's technological framework is Freechain, an application-layer public blockchain designed to support social messaging, private networks, decentralized storage, and more. online chat Jack Long, the visionary behind Freechat, disclosed an early strategic move where the team acquired 78 Bitcoins at $16,000, which have since appreciated to an impressive $3.432 million due to the current market trends.

Platform's Commitment to User Data Protection

Freechat is gearing up for a significant upgrade that emphasizes critical aspects such as privacy, security of personal information, and empowering users to have control over their own data. AI computing power, order books, and more.

In terms of security strategies, Freechat has integrated device fingerprint technology to verify user authenticity and uniqueness. The platform is continuously improving its software and hardware security features while making ongoing investments into security enhancement modules, showcasing a proactive cybersecurity stance. Bitcoin price of $44,000.

Looking forward to 2024, Freechat has set ambitious revenue targets, aiming for an annual income of $40 million. Jack Long has outlined the roadmap ahead, highlighting the upcoming Creator Incentive Program.

“Next, we will roll out incentive services for creators working with graphics, text, videos, and other types of content through the Creator Incentive Program. We’re eager to welcome creators from all language backgrounds to the Freechat community to enrich users’ social experiences,” stated Jack Long of Freechat.

Freechain's flexibility allows its application across numerous sectors including e-commerce, social networking, credit, identity verification, data storage, cloud computing, and even artificial intelligence. It notably assists users in developing applications similar to well-known platforms. user data Please note that the information on this page is not meant to be interpreted as legal, tax, investment, financial, or any other type of advice. Always invest only what you can afford to lose and seek independent financial counsel if you have any uncertainties. For additional information, we recommend reviewing the terms, conditions, and support documentation from the issuer or advertiser. MetaversePost strives for accuracy and unbiased reporting, but market conditions may change unpredictably.

Kumar is a seasoned Tech Journalist specializing in the ever-evolving intersections of AI/ML, marketing technology, and emerging domains like cryptocurrency, blockchain, and NFTs. With over three years in the field, Kumar has built a solid reputation for crafting engaging narratives, conducting meaningful interviews, and providing in-depth analysis. His expertise extends to producing impactful content, including articles, reports, and research works for leading industry platforms. With a unique ability to blend technical knowledge and storytelling, Kumar effectively conveys complex technological ideas to varied audiences in an engaging manner.

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