Web3 social network platform Sleek has completed a $5 million seed round financing, with participation from Binance Labs and others
ChainCatcher news, according to The Block, the Web3 social network platform Sleek has completed a $5 million seed round financing, with participation from Binance Labs, Shima Capital, Spartan Group, Symbolic Capital, Market Across, and Big Brain Holdings. Sleek co-founder Tania Tse stated that the funding was achieved through a Simple Agreement for Future Tokens (SAFT) protocol. She declined to comment on the valuation, but a source familiar with the matter said that Sleek's valuation in this round of financing is $50 million.It is reported that Sleek was originally a no-code metaverse platform called ChapterX, which later shifted to developing a Web3 social network. ChapterX was part of Binance Labs' fourth quarter incubation program. Sleek co-founder Chase Guo was the investment director at Binance Labs before founding ChapterX (now Sleek).Sleek launched in April this year and is a blockchain-based social media platform that helps people connect with each other through Sleek cards and a Telegram bot. Tse mentioned that it has accumulated 20,000 users through various events and meetings. Since its launch, Sleek has sold approximately 15,000 cards. According to the Sleek website, there are two styles of Sleek cards—Prism Card and Premium Card, priced at approximately $30 and $35, respectively.