Sleek Raises $5 Million to Upgrade Social Networking

Sleek, a web3 social network, just got a boost with a $5 million seed funding round. Big names like Binance Labs and others chipped in. The money, raised through a future tokens deal, brings Sleek's value to $50 million.

Sleek started as ChapterX, a no-code metaverse platform, but switched gears to focus on web3 social networking. Co-founder Tania Tse said they made the move because the metaverse wasn't quite ready for everyone. Sleek began in April, and Tse, along with co-founder Chase Guo, who used to work at Binance Labs, is steering the ship.

What makes Sleek different? Unlike others, they're not just throwing tokens at users. Instead, they aim for real use cases. Sleek uses cards and a Telegram bot to help people remember who they meet. So far, they've hooked 20,000 users through word of mouth.

Sleek has sold 15,000 cards since its launch, creating over 300,000 connections. They offer two types of cards—prism and premium—for $30 and $35. Looking ahead, Sleek is working on a knowledge marketplace where experts can make money by sharing what they know. It's set to launch in the first half of next year.

Sleek is a multi-chain platform, supporting Ethereum, Polygon, Solana, and BNB Chain. They default to Solana for wallets because it's cheap. With the seed funding, Sleek plans to hire more folks for marketing, growth, and design.