Sleek, the innovative web3 social network platform, recently secured $5 million in a seed funding round. The funding, which was facilitated through a simple agreement for future tokens (SAFT), saw participation from prominent investors such as Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings. According to Tania Tse, co-founder of Sleek, the company’s valuation following the funding round is estimated to be at $50 million.
Originally known as ChapterX, a no-code metaverse platform, Sleek made the strategic decision to transition into a web3 social network. The pivot was primarily driven the belief that the metaverse was not yet ready for widespread adoption. Interestingly, ChapterX was incubated through Binance Labs’ Incubation Program, Season 4, and co-founder Chase Guo had previously served as an investment director at Binance Labs.
Launched in April of this year, Sleek stands out as a blockchain-based social media platform that facilitates connections between individuals through the use of a unique Sleek card and a Telegram bot. The platform addresses the common challenge of not being able to remember everyone a person meets in person. Through the Sleek card and Telegram bot, users can automatically capture essential data and receive reminders when necessary.
Unlike other web3 social networks, Sleek has distinguished itself veering away from employing tokens or incentives to attract users. Instead, the company has focused on building a robust use case and fostering a loyal fanbase. This approach has resulted in the sale of approximately 15,000 Sleek cards, which have helped forge over 300,000 connections.
Expanding its offerings, Sleek is currently developing a knowledge marketplace that will enable domain and subject matter experts to monetize their expertise tokenizing their knowledge. The marketplace, anticipated to launch in the first half of the coming year, will not only benefit creators but also foster a stronger financial alignment between creators and their followers.
Sleek operates as a multi-chain platform, supporting Ethereum, Polygon, Solana, and BNB Chain. Notably, every Sleek user is provided with a default wallet on the Solana blockchain due to its low transaction fees and ease of onboarding for receiving airdrops and NFTs at events.
With the recently secured seed funding, Sleek plans to expand its team hiring professionals in product marketing, growth, and design functions. This move will further strengthen the company’s capabilities and drive its vision of revolutionizing social networking on the blockchain.
What is Sleek?
Sleek is a blockchain-based social media platform that allows users to connect with others through a Sleek card and a Telegram bot. Its unique features make it easier to remember and stay connected with individuals met in person.
How is Sleek different from other web3 social networks?
Unlike many other platforms, Sleek prioritizes building a real use case and cultivating a dedicated user base before employing tokens or incentives. This approach ensures sustainable growth and the generation of unique content.
When will Sleek launch its knowledge marketplace?
Sleek’s knowledge marketplace is expected to launch in the first half of the upcoming year. This marketplace will enable experts to tokenize their knowledge and monetize their expertise while fostering a stronger relationship with their followers.
Which blockchain networks does Sleek support?
Sleek operates as a multi-chain platform, supporting Ethereum, Polygon, Solana, and BNB Chain. However, the default wallet provided to Sleek users is on the Solana blockchain due to its low transaction fees and ease of use.