Distributed Global, an early investor in crypto startups Dapper Labs, Audius, and Solana, has to lead a $3.5 million fundraising round with Yup, web3 social network that pays curators. The money will continue developing a revolutionary web3-native social networking platform and empowering curators all across the internet.
Major participants in the blockchain and tech industries, Such as Dapper Labs, LD Capital, and several creator angels, participated in the fundraising round.
Yup is a social media platform that pays and acknowledges content curators throughout web2 and web3 platforms. Such as Twitter, Youtube, Opensea, Mirror, etc. This protocol is designed to monetize the value created by influencers and people on social media who share high-quality material.
Yup has given almost $1.6 million in curator awards since its debut. They’ve developed a strong relationship with the NFT, awarding NFT curators $300,000 in $YUP, with some receiving hundreds of dollars.
Distributed Global’s Johnny Steindorff Said,
“Web3 social is one of the most interesting areas in their opinion. And we feel Yup has positioned itself as being a leader”
Traditional social media sites depend on protected user data silos with limited access. They are essential to their business models. Yup has the potential to enable architects and dreamers of following huge social apps as completely open and modular. Web3 social network,” says Alex Price, who well before Yup and is presently a Special Advisor at A16z Crypto. “I’m excited to see what types of feeds, interfaces, and some other things Yup’s open social network will produce.”
