Pioneering global tech firm REPUBLIK proudly announces the triumphant closure of its $6 million seed funding round, featuring prominent investors such as OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management.
The newly acquired capital plays a pivotal role in advancing REPUBLIK’s platform and fostering the development of cutting-edge web3 creator tools on the blockchain. Currently in beta across web applications, iOS, and Android platforms, REPUBLIK has gained significant traction, empowering creators with innovative ways to engage and receive rewards for their contributions.
Daniel He, CEO of REPUBLIK, stated, “For too long, people have devoted their time, attention, and creativity to existing platforms with minimal returns. REPUBLIK aims to change this paradigm by ensuring that the community’s value is equitably distributed. We are thrilled to have investors who align with our vision and partners contributing to the creation of a truly community-owned platform.”
Diverging from conventional social platforms with fragmented monetization options and high fees, REPUBLIK leverages Web3 technologies to streamline the entire process, significantly reducing costs for creators. This not only allows creators to retain a more substantial share of their earnings but also facilitates a token-based reward system, enabling everyone to earn through content interaction, referrals, and support for creators.
In contrast to legacy platforms that capitalize on user attention without direct compensation, REPUBLIK firmly believes in the inherent value of online communities. The platform advocates for the fair distribution of this value to those who played a role in creating it. Within the app, XP represents a user’s contribution value, while RPK serves as a freely traded token symbolizing the community’s value. Users with more XP receive a proportionately higher distribution of RPK, fostering a more equitable reward system.
The REPUBLIK App is available on Google Play Store, Apple App Store and as a web app at https://app.republik.gg/