Singapore based decentralized Web3.0 Public Network BBS Network raises $1.5 Million funding

Bulletin Board System (BBS) Network, a Singapore based decentralized Web3.0 public network of user-run online message boards, has now secured $1.5 million in a seed funding round.

BBS Network was founded by Eyal Hertzog. It is a SocialFi project that enables content sharing to reward curators, creators and some other stakeholders with its own native token. Revenue generated by the platform is being shared across all the BBS ecosystem participants in a fully automated, market-driven and transparent manner.

Eyal Hertzog, Founder and CEO of BBS, said, "The mission of BBS Network is to return control of content and its economic upside back into the hands of social media users. We are excited to cooperate with Binance Labs to further decentralize the reach of SocialFi, the next great frontier for blockchain. The investment will enable us to focus on building and launching new features such as Native App, Search Engine, and Cross-BBS Authentication."

Ken Li, Investment Director of Binance Labs, said, "Our team has been deeply exploring the Web 3.0 SocialFi landscape, and we are excited by what decentralization can do for the creator economy, as well as billions of daily social media users."

Binance Labs led the funding round with participation from the DCG (Digital Currency Group), DAO Meter, Node Capital, NFX and Polychain Capital GPs.

The new funding will enable the company to focus on building and launching some new features such as search engines, native apps and cross BBS Authentication.