OKX Ventures Announces Investment in DeBox, a Web3 Social Networking Platform with Over a Million Active Users

SINGAPORE, March 8, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its strategic investment in DeBox, a decentralized social networking platform for Web3 communities and Decentralized Autonomous Organizations (DAOs). 

Over the past two years, DeBox has committed itself to serving the Web3 community, generating over 10 million posts and attracting more than 690,000 mobile users. The platform offers a range of features such as the formation and governance of DAOs, networking and social trading opportunities, the setup of decentralized identifier (DID)-based profiles and NFT avatars, and ability to earn tokens for publishing content, among others.

DeBox also offers a token swap solution, DeSwap, which allows users to swap tokens across seven supported blockchain networks. These include Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, zkSync Era and Avalanche.

OKX Ventures Founder Dora Yue said: "We are motivated to invest in DeBox because of its potential to transform social use cases within the Web3 space, making it easier to onboard the next billion users. DeBox leads its community with a DAO format, enabling seamless wallet access and engagement through unique NFT avatars based on animal characters and DID names. DeBox enhances its user experience with interactive DApps, fostering the sharing of ideas, content management, and providing trading or staking options."

OKX Ventures' investment aims to cultivate a more inclusive and interactive Web3 space. This aligns with the shared vision of OKX Ventures and DeBox for a decentralized future.

For further information, please contact:
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About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX