Singapore October 11, 2023 HTX Ventures announced its investment in REPUBLIK, an emerging Web3 startup within the domain of social platforms. This investment aims to support REPUBLIK in advancing its Web3 platform designed for creators and their supporters to connect and earn rewards. HTX Ventures' investment underscores its steadfast commitment to long-term industry advancement and its dedication to fueling innovation and growth within the blockchain ecosystem and the creator economy.
HTX Ventures joined 13 other prominent investors in REPUBLIK's successful $6 million seed funding round, pushing its valuation to $75 million. Founded in 2022, REPUBLIK is a technology company headquartered in Singapore that provides content creators a platform to engage with their communities and reward their followers based on their interactions. This empowers creators to create, engage with, and monetize their content. As the community continues to expand rapidly, REPUBLIK is redefining the landscape of online interaction.
The funds raised will be allocated to furthering the development of REPUBLIK's platform and the establishment of their state-of-the-art Web3 creator tools on the blockchain. Although REPUBLIK's app is currently in beta on Android, iOS, and the web, it has garnered significant interest. The platform provides creators with inventive methods for interaction and recognition for their contributions.
A representative from HTX Ventures commented "the landscape of social platforms is undergoing a transformation with the emergence of Web3, and REPUBLIK's distinctive practice of consistently rewarding the community sets them apart within the realm of SocialFi projects. In addition to their creator-centric approach, REPUBLIK holds the potential to offer a compelling value proposition for existing Web2 users."
"For too long, people have devoted their time, attention, and creativity to existing platforms, often receiving little in return. REPUBLIK is set to change this by ensuring a fair distribution of community value. We're thrilled to have investors who share our vision and partners who are assisting us in building a genuinely community-owned platform," expressed REPUBLIK's CEO Daniel He.
HTX Ventures, the global investment arm of HTX, leverages an integrated approach that combines investment, incubation, and research to identify the most exceptional and promising teams around the world. As a pioneer with a decade of experience in the blockchain industry, HTX Ventures is committed to driving the development of cutting-edge technology and emerging business models within the industry, offering comprehensive support to collaborative projects, including financing, resources, and strategic consulting, to establish a long-term blockchain ecosystem. To date, HTX Ventures has supported over 200 projects spanning multiple blockchain tracks, with some high-quality projects already listed on HTX for trading. Additionally, HTX Ventures is an active participant in fund-of-funds (FOF) investment, collaborating with top global blockchain funds like IVC, Shima, Animoca, and others to collectively foster the evolution of the blockchain ecosystem.
In the foreseeable future, as the Web3 ecosystem continues to evolve, social platforms are poised to emerge as the most dynamic avenues for user engagement. The expansion of REPUBLIK holds the promise of reshaping the Web3 social interaction landscape and the creator economy. HTX Ventures will closely monitor REPUBLIK's advancements.
Republik is on a mission to connect creators to their communities while rewarding everyone based on their interactions. With a rapidly growing community, REPUBLIK redefines the realm of online interaction.
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide.
With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
View source version on newsdirect.com: https://newsdirect.com/news/htx-ventures-announces-investment-in-republiks-6m-seed-funding-round-742137409
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.