PALO ALTO, Calif., July 19, 2022 (GLOBE NEWSWIRE) -- CyberConnect, a decentralized social graph protocol for Web3 connections, announced today the launch of its inaugural product, Link3. As a Web3 social network of verifiable identities, Link3 delivers a fabric of trust for Web3. Link3 aggregates both on-chain and off-chain data to deliver context-rich, verifiable information. The Link3 profile page serves as your holistic identity enabling trustworthy networking and meaningful connections among users and organizations.
Trust is severely lacking in digital social networking. The internet was built to connect machines, not to connect people, as it lacks an identity layer built in on the systematic level. The lack of trust across individuals makes networking and direct message interactions burdensome. Ultimately, this broken trust is disconnecting users, making it difficult to reach the correct people. According to the Chainalysis annual Crypto Crime report, scamming was the most common type of cryptocurrency-based crime in 2021 – with a record $14 billion in cryptocurrency stolen from unsuspecting users.
Reports highlight social media as a leading cause for crypto fraud. Nearly 50% of those who reported falling victim to a crypto scam over the past year were deceived by a fraudulent advertisement or direct message on social media – with Instagram (32%), Facebook (26%), WhatsApp (9%), and Telegram (7%) representing the most frequented platforms by scammers. Built with CyberConnect's composable social graph, Link3 helps users build trust with verifiable connections and enriched, contextualized identities. Link3 delivers an array of dimensions that tell a more complete story about each user, including connections held with individuals and organizations across platforms, credentials, DAO membership, project involvement and roles.
For users, Link3 will deliver a number of benefits, including:
- Simplified Networking: Share your profile as a curated business card to quickly showcase who you are and why connections will be valuable.
- Streamlined Applications: Use your profile to submit applications and eliminate redundant verification processes.
- Verified Connections: Gated direct messages by inviting people with verified and valuable traits, background and capabilities.
- Community Involvement: Delegating votes within communities of trustworthy, meaningful connections.
“To date, we have failed to adequately protect internet users,” said CyberConnect Co-founder and CEO, Wilson Wei. “A trustworthy identity network will be the cornerstone of the Web3 social network. Knowing who is connecting, why they are connecting, and where they are connecting is essential for the next generation of cyber services to break out of the starting gate. The keys to the future stem from trusted connections and meaningful contexts.”
As Web3 moves beyond financial use cases, the immense potential of a decentralized society has come into full view. To fulfill this potential, Web3 must first address the lack of trust that persists in the space. For Web3 users, Link3 brings trustworthy, meaningful networking capabilities, allowing users to engage, connect and interact with other verified identities within the space. The holistic identity ownership will make it easier to be discovered and discover others. With Link3, Web3 organizations will now have a Web3-native platform to engage in direct community management, while enhancing trust across users. In 2021 alone, $133 million in crypto was stolen from users as the result of business impersonation scams – with nefarious actors impersonating businesses like Amazon, Microsoft, or banks.
Link3 corrects these problems in a variety of ways, including:
- Link Verification: Protects users from scams and fraudulent links plaguing Twitter and Discord.
- Trustworthy Content: Projects can showcase their content across platforms within Link3, giving community members more content and context in one unified place.
- Connected Community: Through address-based connections, projects can build Web3-native communities and engage with them through token-gated events, airdrops, and more.
“Web3 needs a consistent, socially recognizable profile for users and organizations,” continued Wei. “An address-based persona has the potential to promote trust and incorporate digital assets and credentials into online social networks. Not only could a user’s public persona be more composable and self-sovereign, but every connection could become more meaningful. Link3 enables Web3 users to make themselves more discoverable, and interact with job opportunities, business partners, investment opportunities, airdrops, or DAO communities.”
The launch of Link3 follows CyberConnect’s recent Series A raise co-led by Anomica Brands and Sky9 Capital, as well a seed raise led by Multicoin Capital, totaling $25 million in funding.
Starting today, whitelisted addresses or those with invitation codes can begin building the verified profiles. To make it to the whitelist, you will need to either be mentioned on a verified Link3 project profile or be followed by a super Web3 KOL on Twitter. For the coming series of whitelisting campaigns and NFT drops, follow Link3 on Twitter. To explore more about Link3 and join the waitlist, visit: http://Link3.to.
To learn more about CyberConnect, see: https://cyberconnect.me/. Follow CyberConnect on Twitter, and join the conversation on Discord.
About CyberConnect
CyberConnect is a decentralized social graph protocol that helps dApps bootstrap network effects and build personalized social experiences. The decentralized protocol allows users to own their social connections while providing a composable social data layer for developers. The protocol describes the CyberConnect Social Data Network for storing, indexing, caching and serving of social connection data from both on and off-chain sources. The Interest Graph Engine aggregates social connection data, empowering developers to build powerful and personalized decentralized applications (dApps).
Media Contact:
Isaiah Jackson
Multiplied Marketing Communications
t: 805 674 7348
e: isaiah@multiplied.io
