According to reports, the sixth biggest ICO of 2017 received $107 million from venture capitalists particularly fond of Web3.
The sponsored project is a messaging network that aims to provide “WhatsApp on Web3,” a product that was and is considered promising by investors and consumers alike.
Stay with us if you’re curious about the “What is Whatsapp Web3?”
The secrets behind WhatsApp web3
In 2017, the idea of Web3 was still in its infancy and not generally accepted. Former Ethereum co-founder and current polkadot ecosystem creator Gavin Wood developed the concept.
Status, a private messaging software, was named as the platform that has shown interest in hosting Web3’s WhatsApp on the Ethereum blockchain.
However, it fell short of expectations by not providing a service with the officially advertised adaptability.
It has been argued that this is because the target market is too tiny; in contrast to the almost 8 billion people in the globe now, the number of Bitcoin users was believed to be just over 106 million at the time (web3 gaming market size).
Others, however, pointed to the inflexibility of the Ethereum blockchain (and the fees and network congestion it causes) as the reason Status didn’t attract more users.
As a result, the environment for a messaging app becomes quite constrained and not particularly user-friendly.
Investment firms, Web3 developer salary, product creators, customers, Web3 earn money, and even governments will continue to discuss the potential benefits and drawbacks of decentralized Internet and commercial service providers in 2023.
Companies that develop WhatsApp web3
Web3 has been central to many projects’ first marketing efforts over the last three years.
Web3 is still a goal for many projects, but an immersive Internet concept known as The Metaverse is attracting the attention of an increasing number of programmers.
So, to continue, let’s be familiar with the various companies that develop the WhatsApp Web3 app:
1. OP3N
According to a previous report by Techcrunch, OP3N is working on a new WhatsApp replacement for Web3.
Using artificial intelligence (AI), Web2 infrastructure, and Web3 technologies, OP3N can provide users with super applications emphasizing communication, commerce, community, and one-of-a-kind, unforgettable experiences.
According to reports in Web3 passive income, OP3N has secured $28 million in Series A investment, bringing the total amount received to $100 million.
2. Super app
With the help of OP3Ns’ funding, the Super app is working to construct WhatsApp Web3, which incorporates Web3 technology into Web2, using blockchain security and privacy layers and decentralization technologies to create an open, tokenized, and distributed web.
TechCrunch claims that Animoca Brands spearheaded the funding round, which also included New Enterprise Associates, Republic Crypto ecosystem, Avalanche Blizzard Fund, Galaxy Digital, and Warner Music Interactive investors such as Dragonfly Capital, SuperScrypt, Creative Artists Agency, and Connect Ventures.
Other investors in Superapp include GSR Markets, The Spartan Group, BRV Capital Management, and NBA star Russell Westbrook.
According to OP3N co-CEO Jaeson Ma, most people don’t know the difference between blockchains like Avalanche RPC, Solana, and Polygon, so the company assumes that when it launches NFTs for fans, most people don’t know what they are. This ignorance of the ecosystem was observed when the company began distributing NFTs.
OP3N’s goal is to create a Web3 equivalent to WhatsApp by providing a platform that combines the adaptability of Web2 social platforms with the security, monetization, and utility structures of Web3 while abstracting away the complexities of cryptocurrencies, blockchains, and Web3 protocols.
WhatsApp Web3 has a Token economy, connectivity with Web3 dApps, and smart contracts for communicating and interoperating inside the Web3 ecosystem, among other things.
A good example of a full-scale application often discussed by technology and blockchain enthusiasts is WhatsApp for Web3, which will enable seamless global connectivity not only for the exchange of messages or data but also for the exchange of large sums of money across different protocols and networks in seconds, thereby enabling the automation of various activities.
Final thought
WhatsApp Web3 is a cutting-edge technology that comes with lots of great features.
WhatsApp web3, indeed, is a new modern generation that not only makes communication more accessible but also provides many other features.
The security level is more crucial than all, which will be way better than now. Feel free to comment; we love to hear from you, “What is WhatsApp web3 and how to learn web3 WhatsApp?”
