Sleek secures $5 million in seed funding from Binance Labs and other investors

Sleek, a trailblazer in the Web3 social networks arena, recently achieved a significant triumph by securing $5 million in a seed funding round. Notable investors, including Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings, united to propel Sleek into an exciting phase of development.

This funding, facilitated through a Simple Agreement for Future Tokens (SAFT), serves as a resounding vote of confidence in Sleek’s potential. While specific valuation details remain undisclosed, insiders suggest that Sleek’s valuation has surged to $50 million post this pivotal investment, underlining the platform’s growing stature.

Originally conceived as ChapterX, a no-code metaverse platform, Sleek pivoted towards becoming a Web3 social network, citing challenges in the widespread adoption of the metaverse concept. ChapterX, incubated under Binance Labs’ Season 4 Incubation Program, boasts ties to Binance Labs through Chase Guo, Sleek’s co-founder and former investment director at Binance Labs.

Beyond social networking, Sleek is set to launch a revolutionary knowledge marketplace. This platform aims to empower domain experts by allowing them to tokenize their knowledge, creating avenues for monetization. The vision aligns with successful monetization models seen in exchanges, DeFi, and NFTs, fostering a dynamic ecosystem where creators and patrons share a mutually beneficial relationship fueled by financial incentives.

Proudly a multi-chain platform, Sleek supports Ethereum, Polygon, Solana, and BNB Chain. Tania Tse, Sleek’s co-founder, highlights Solana’s default wallet provision, leveraging its low transaction fees as a key advantage. This strategic move not only streamlines user onboarding but also ensures a hassle-free experience for receiving airdrops and NFTs at events, eliminating the complexities of wallet creation and seed phrases for users.

Anticipation builds as Sleek prepares to unveil its groundbreaking knowledge marketplace, scheduled for launch in the first half of the upcoming year. This imminent introduction promises to usher in a new era of knowledge monetization, creating an environment where expertise is valued, and creators are duly rewarded.


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