Republik Secures $75M Valuation in Seed Funding With OKX Ventures

According to reports, Republik, an online platform for Web3 creators, announced the successful completion of their seed funding round of $6 million at a whopping $75 million valuation. The seed funding round witnessed participation from some of the most vital investment firms in the Web3 realm, such as OKX Ventures, HTX Ventures, Arcane Group, FBG Capital, Comma3 Ventures, Sora Ventures, and 6th Man Ventures. The capital raised has set a landmark on Republik’s road in developing a state-of-the-art platform that empowers Web3 creators with the best tools available on the blockchain.

More about Republik

Republik is an online Web3 social media platform that uses blockchain and smart contracts to make interacting and earning easy. The organization asserts that its users can always earn rewards, owning to the fact that they’ve introduced an XP and RPK Token system into their ecosystem so that users can keep a much larger share of what they’ve earned. As of now, the platform is still in its beta phases across Android, IOS, and web platforms.

According to the CEO of Republik, “People have given their time, attention, and creativity to existing platforms for too long while gaining nothing in return. Republik stresses changing that by promising that the value of the community is fairly distributed.

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OKX Ventures Dominating the Web3, Crypto Realm

Earlier this year, OKX Ventures, the world’s popular cryptocurrency exchange by trading volume, let out an upgraded version of its app, empowering its users in Hong Kong to engage in safe and secure spot trading of virtual assets. The tokens that were listed and available for trade in Hong Kong included BTC, ETH, ADA, MATIC, SOL, DOT, UNI, LINK, SAND, LTC, AVAX, AXS, ATOM, XLM, USDT and USDC.

OKX Ventures is one of the leading capital investment firms in the crypto realm. The firm, founded in 2021, is the venture capital arm of OKX based in Mahe, Seychelles. According to a statement by OKX Ventures, “This is yet another prime example demonstrating the potential power of Web3 and blockchain technologies. We’ll continue to support their development throughout the journey.” The capital investment made by OKX Ventures marks a significant step for Republik as Web3 creators are constantly looking for better and evolving platforms that enhance their Web3 presence.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.