Web 3 social graph protocol CyberConnect announced Tuesday that it has received $15 million in Series A funding.
CyberConnect seeks to make personal data, such as handles and followers from social media platforms, usable across Web 3 protocols. Blockchains tend to create data silos.
The funding round was led by Anomica Brands and Skyline Capital, and the company plans to invest the funds in expanding the protocol, expanding the team and adding new Web 3 projects, CyberConnect CEO Wilson Wei told CoinDesk via email.
CyberConnect wants to eliminate "trenches around user data" and be more accessible to projects in this space.
"Ultimately, an open social graph lays the foundation for such identities and a truly interoperable and seamless social experience, which is the core feature of the Metaverse," Wei said.
CyberConnect is also expected to benefit creators in terms of their cross-platform social followings. By making followers interoperable, they can leverage their fans across platforms to grow their brand horizontally.
"This is critical because they now have the ability to mobilize their social capital that they may have spent years building up, which could be worth far more than the immediate financial revenue," Wei said.
According to Wei, 23 projects have integrated CyberConnect, and 12 more are on the way. Project Galaxy, Mask Network and Metaforo are just a few examples of companies working with CyberConnect.
"Social-connected credentials enable holistic Web 3 identities and a new generation of meaningful social experiences on Web 3," Harry Zhang, co-founder of Project Galaxy, told CoinDesk.