Web3 Initiative Raised $12.5 Million in Funding

Interest in Web3 technologies is increasing day by day. Web3’s initiatives centered around decentralization continue to be followed with interest by investors. Sending Labs, a new startup focusing on decentralized communication protocols, has managed to raise $12.5 million in investment for the Web3 communication platform.

The new platform is tasked with creating an accessible and secure Web3 infrastructure for developers and the community alike. With its new feature, Sending Labs aims to activate privacy-protecting communications and guarantee ownership and transfers of digital assets to community chats. Announcing its funding today, Sending Labs has launched two messaging products, including SendingNetwork and SendingMe.

Sending Labs was founded by the developers of Dolphin, a legacy Android-based browser released in 2011. The developers of Dolphin, a legacy mobile browser based on Android, are working to bring online communication to the Web3 ecosystem.

OKX Founder Announces New Blockchain Network

Star Xu, founder of Seychelles-based cryptocurrency exchange OKX, has officially announced the new blockchain network OKBCain. The new crypto network will be completely independent of OKXChain, which currently operates based on Ethereum. CEO Xu announced that OKBChain will be active at the end of the first quarter of the year.

Built on the Ethereum network, the current network OKXChain is an EVM compatible layer-1 blockchain platform. The developers have worked hard to allow new DeFi and Web3 projects to come to life through OKXChain. Exchange officials have long worked on an independent cryptocurrency network like Binance Chain to go one step further. According to CEO Star Xu, the new blockchain project OKBChain will be completely different:

“OKXChain, our old blockchain network, is a PoS chain that has gone through open development. We have undertaken the development process of OKBChain.”