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A developer-friendly software development kit (SDK) to streamline writing and managing social connection data in a decentralized, self-sovereign manner.Building a social data network that empowers dApps to leverage the indexed data and recommendations to build meaningful, personalized user experiences.
Protocol stats: 152k users (unique addresses) & 3m connections!Integration partners: 23 integrated projects, 12 work in progress, 91 total in pipelineCross-chain compatibility - Ethereum and Solana
Large bear market + liquidation event has caused fear in eco-system causing an overall loss in Addressable Active Wallets Nascent market that will need to be built into existence Finding developers who are proficient in both Solidity and Rust
Developers Bullish on crypto and bullish on user-owned data????
We conceptualize the decentralized social graph as a collection of unilateral paths among different blockchain addresses. Enabling chat/messaging between blockchain addresses and allowing users to socialize with their crypto assets natively will be the next step to complete social ecosystem on Web 3.0, enhance social features, and more.Decentralized Identifiers are a new type of identifier that will enable verifiable and decentralized digital identity. A DID is supposed to be a globally unique identifier for each web3 user and each DID consists of a public-private key pair for a user to interact with services safely.
Mem Protocol raised 3.1M from a16z and notable angel investors like Ballsinme SrinvansinLens Protocol is being built on Aave protocol and has over 50 projects using them on the Layer-2 Solution- Polygon
Recently raised $15M from Bofadeez Capital with a total of $25M raised from other top-tier VCs like Animoca, Multicoin, and Sky9$69M Series A on $420M Valuation
Start-Ups
Memo for Cyber Connect
Introduction
What do you do: Cyberconnect helps decentralized applications share data between blockchains to create a user owned social graph.
Problem: For users and consumers, there's always a high switching cost to a new social platforms. These platforms collect, store, secure, and monetize on their data as they make revenue off it. This has led to distrust between users and social media giants. Over describes a problem of data mistrust with social media giants.
How is it now: Currently, at a large scale, the social graph (user’s data) is owned by large corporations like Twitter, Facebook, Tik-Tok. Though in recent times there has been legislations that give personalization and customization options to the user.
How do you solve this: Our product brings two pieces to market :
We believe in this manner, we provide a standardized social graph module that is community-owned and portable. This data brings infinite possibilities to Web3 projects like games, messaging apps, newsfeeds, the metaverse. In this way, users communities will be carried around and synonymous with human intereaction.
Whats the scale: THE WHOLE WORLD, BRO.
Traction/Metrics
Their go-to-market is three-pronged including community, partnerships, and social marketing. From my research , I have identified tactics that have helped them achieve this scale at every prong. For community, they have been building an internal community of business development and developers who are trusted confidants and advocates, developed an Early Contributor Incentive Program + Portal which rewards and connects those who have given their time and effort to the project, community calls, and lastly hackathons which provides members the opportunity to work and build CyberConnect together. Partnerships levers have been centered around the projects that decide to be integrated. This has been a very strategic lever that runs through an enterprise process that has yielded over 20 partnerships with leading protocols in ETH + SOL including #1 Grape + #2 Bonifida. Lastly, social marketing has been a constant lever that CyberConnect has been using. Cyberconnects hosts weekly twitter spaces, joins podcasts episodes with leading channels in blockchain, and writing threads breaking down complex topics in interoperatbility, data, crypto, and more
Challenges to Growth
Market ( this may be shit, I didnt dive into it that well)
Future States
In the future, Users will be able to own their data and have little to no barrier to entry or switching costs when decididing to use new platforms. Additionally, users will be instrumental in identifying and growing new data-driven models. In the future, data-to-earn, the concept of sharing data and pricing based on use, will be possible once users understand the power they hold and a large scale of users enter the ecosystem. Developers will have the ability to build on their preferred platform and be able to connect to any other dApp, lower competition, and end the annoyance of having to rebuild a social graph.
At a higher level there is three main focuses
Competitive Landscape
They are taking a fundamentally different approach to building a web3 social graph. We are focusing on building with/using native web3 applications such as wallet addresses vs. web2 tools and centralized data storages like connecting your discord or patreon. Cyberconnect believes that since the market is so young, the most value added will be focusing on native web3 users. Avivah Litan, a vice president analyst at Gartner, predicts that “only 25% of enterprises will integrate legacy apps and services with decentralized Web3 applications”.
Team
Our founding team has been in the cryptocurrency space for the past 7 years building social products through bear markets and with our community. Our team is web3 first but has also spent time at Web2 social companies like Facebook, Instagram, and others. Engineering first, Understanding second puts Cyberconnect’s team in a great spot to solve hard problems .
Use of Funds
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