CyberConnect, a protocol that allows social media profiles across Web3 to interoperate, is launching Link3, the company announced in a Tuesday press release.
CyberConnect’s inaugural product, Link3 utilizes blockchain technology to create a secure, decentralized network with verified identities. The company’s CEO, Wilson Wei, called it “LinkedIn for Web3.”
“Cyberconnect’s mission is to connect everyone on Web3,” Wei told CoinDesk in an email. “We found that a trusted identity network is the foundation for building more meaningful connections.”
But it’s not just about creating identities: the product also seeks to protect users from social media-related fraud.
Fifty percent of crypto scams over the past year occurred from faulty advertisements or bad actors in users’ direct messages, according to CyberConnect’s press release.
Link3 will provide users a profile with a verified identity to ensure they’re connecting to trustworthy people, says Wei. Users can also choose who can send them messages about digital assets or payments.
Link3 plans to collaborate with Decentralized Autonomous Organizations or DAOs to improve identity verification and community establishment. Wei said that with identity verification, “DAOs could leverage their community resources and engage with members in much more diverse, tailored and productive ways.”
According to Wei, CyberConnect has 30 partner projects and more than 1.5 million users. There are also 21 million connections within the social network protocol.
The company raised $15 Million in Series A financing led by Sky9 Capital and Animoca in May.
Link3 Alpha 1.0 is available today to users who have whitelisted their addresses or verified codes. The public will be able to access the product by the end this year.