Home Block Chain News Metaforo, the Web3 Platform for Online Communities, Announces $4m Fund Raise

Metaforo, the Web3 Platform for Online Communities, Announces $4m Fund Raise

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Web3 community platform built on Ethereum, Arweave and its layer two networks, has raised a $4 million initial funding round from Mask Network, GSR Web3 Ventures, Arweave, SNZ Holdings, Hash Global and CyberConnect.

The platform was launched in December 2021, with OpenDAO and Web3 University communities as the early adopters. Within a couple of weeks, Metaforo reported over 6,000 users, and over half of them have connected to Web3 communities through their MetaMask wallet. The platform is now inviting new communities to migrate or start their online community on Metaforo.

Metaforo is a decentralized community governance and engagement protocol built on Ethereum, Arweave and its Layer 2 Networks. Metaforo’s goal is to help Web3 communities to build their online communities and with comprehensive Web3 tools. Metaforo uses NFTs, POAPs (Proof of Attendance Protocol) and the community’s choice of tokens to apply permission management. The Metaforo platform also supports airdrops and peer-to-peer tipping without a gas fee.

Members of the communities can use their NFTs for the community avatar, and contributors are recognized and compensated with rewards in the process of the user’s daily interaction in the community.

Andy Deng, Co-Founder and Head of Product, also announced that “all new DAO communities that are created on Metaforo through April 30, 2022 will also get POAPs to receive future airdrops for the seed user. Metaforo.io is a great way to build engagement within a community and we want to encourage the engagement by providing native Web3 tools. And as DAOs become mainstream for online communities, Metaforo.io will become the dominant community platform.”

Metaforo has seen a huge uptick in the adoption of Web3 tools on its platform. For example, members tipping each other, completely free, creating a friendly community vibe. And members have been more willing to contribute to the community when they receive a tip for their response.

The Web3 tools also reduce the burden of community members. The NFT/ERC20 tokens create gated access/poll/lottery, so it’s easy to get the community involved with daily activities, such as filtering out noise that would normally drain admins time. Communities do that by granting the ability to like others’ posts only to the members that own your community NFTs. And/or provide reward tokens to great content, such as content that receives over 50 likes within a week. And this can all be done automatically.

Metaforo intends to use its seed investment to increase the size of the engineering and product teams to speed the development of additional Web3 tools for online communities.

To start your web3 community on Metaforo, go to: metaforo.io.

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