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Hong Kong-Based Web3 Social Firm Sleek Raises $5 Million in Seed Round

Hong Kong-Based Web3 Social Firm Sleek Raises $5 Million in Seed Round

Key Takeaways

– Hong Kong’s Sleek secured $5 million in a seed round, now valuing the company at $50 million.
– Fundraising carried out via Simple Agreement for Future Tokens (SAFT).
– Notable participants include Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings.

Instant Impact within the Blockchain Community

Making significant strides in the blockchain world, Hong Kong-based Web3 social company Sleek has completed a $5 million seed round. The fundraising effort has rocketed the company’s value to a staggering $50 million. This accomplishment was drawn through a novel funding tool within the world of digital currencies, the Simple Agreement for Future Tokens (SAFT).

Driving Digital Transformation with Renowned Backers

The seed round saw participation from some significant players in the digital investing space including Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings. This brings promising industry validation to Sleek’s vision and potential in the blockchain-based social media landscape.

Blockchain-based Social Media

The Sleek Card is the Hong Kong based company’s flagship product, ingeniously leveraging blockchain technology in the social media domain. The card allows users to connect with each other through an integrated Telegram bot, promoting digital socialization with blockchain’s unmatched transparency and security.

Since its inception, Sleek has sold approximately 15,000 cards and promoted over 300,000 new connections, marking an encouraging mileage in its journey to the future of digital social communication.

Expanding Horizons with Open Marketplace Launch

Sleek has announced plans to launch an open marketplace in the first half of 2024. This initiative aims to incentivize experts to tokenize their knowledge and earn income, facilitating an exchange of practical skills teaching and learning within their platform.

The Repositioning Strategy

Initially concentrating on a no-code metaverse platform, Sleek has tactically shifted to Web3 due to the relatively early stages of mass adoption for the metaverse. This pivot allows Sleek to position itself within a crop of burgeoning technology that has already found early acceptance amongst the tech-savvy masses.

The Word of Mouth Advantage

Demonstrating an impressive organic growth strategy, Sleek has gathered a community of 20,000 verified users predominantly through word-of-mouth channels. Eschewing monetary incentives and the lure of excessive promotional activities, Sleek’s robust user base growth speaks volumes about its viable product and resonates with the trust it has instilled within its community.

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