Sending Labs, a firm specializing in decentralized communications protocols has raised $12.5 million in venture funding to develop the Web3 communications stack.
As one of the creators of one of the first Android-based mobile browsers, the new platform’s objective is to establish an accessible and secure Web3 communication infrastructure for developers and the community by utilizing end-to-end decentralization of its main products.
Sending Labs’ latest solution promises to allow private communications while also ensuring digital asset ownership and transfer within communal discussions.
Lead investors in the seed round included Insignia Venture Partners, MindWorks Capital, and Signum Capital, as well as K3 Ventures and Lingfeng Innovation Fund.
Sending Labs announced its seed round on February 16, along with the launch of its first two messaging products, SendingNetwork and SendingMe.
The products, which are now in beta, are intended to help developers create decentralized social applications and provide the community with access to an encrypted decentralized group chat network.
The tools enable users to commercialize their projects through a range of methods like peer-to-peer swaps, community marketplaces, crowdfunding, airdrops, gifting, auctioning, and others by utilizing smart contract payments and trading protocols.
According to Sending Labs, Twitter’s explicit ban on third-party clients, combined with millions of FTX users’ inability to withdraw assets, has pushed decentralization and digital asset ownership back into the spotlight.
Joe Yu, co-founder, and CEO of SendingLabs emphasized that Web3 and decentralized group messaging are the first steps toward restoring data ownership to the user.
Yu and Mason Yang, the company’s founders, previously co-founded MoboTap, which produced Dolphin, one of the first Android-based mobile browsers.
The browser was rated one of the top iPhone and iPad apps of 2011, reaching a community of 200 million users across the United States, Europe, and Japan.
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