CyberConnect, a decentralized social graph protocol for Web3 connections, announced a Series A funding round totaling $15 million.
The funding round was co-led by Animoca Brands, a global leader in gamification and blockchain, and Sky9 Capital, a venture capital fund supporting disruptive technologies and innovators.
CyberConnect's composable social graph helps developers bootstrap network effects and create personalized (contextualized) social features in decentralized applications (dApps). Additionally, it returns social data ownership to users.
Other investors in the funding round include Delphi Digital, Protocol Labs, IOSG Ventures, Tribe Capital, GGV Capital, Spartan Group, Amber Group, Polygon Studios, and SevenX Ventures.
The funds will be used to further develop CyberConnect's decentralized social graph protocol, expand the team, and onboard various Web3 projects.
CyberConnect aims to enable users to own their data and travel between applications with their own social graph as part of their Web3 identity.
The lack of individual data ownership has become a growing concern for consumers, and CyberConnect seeks to address this by providing data ownership to users.
The decentralized social graph protocol is built with IPFS and Ceramic and already integrates with multiple Web3 projects, including Project Galaxy, Mask Network, Light.so, Grape.art, Metaforo, and forum.theopendao.