• Yup raises $3.5 Million in funding round
• Distributed Global and Dapper Labs were prominent participants in the round.
• This platform offers curators a reward.

Yup, a web3 social network platform that rewards its curators with cash, has closed a $3.5 Million funding round. Distributed Global, Dapper Labs LD Capital and Audius led the round.

Funds will be used for further development of a new social media platform experience that is web3-native. It will allow curators to be empowered across the internet.

Like we mentioned, social media platform Recognizes and Rewards Tastemakers Who Curate Content on Web2 and 3 Platforms. YouTube, Twitter, Mirror, OpenSea and other social media platforms are some of these.

Yup intends to capitalize on the value created by social media influencers, as well as any other users using their platform who share quality content. Social media platforms are most often used to draw attention and reward content creators.

It is curators and tastemakers who offer the most value to their audience. Yup gives these professionals a platform to shine and is making a significant shift in the industry.

Nir Kabessa was the cofounder of Yup.

We’re incredibly excited to partner with industry leaders to build the next generation of Web3 social. Our mission is to unlock the social capital tied to individuals’ tastes and curation. Yup sees curators as undervalued in web2 social media platforms. Yup will empower and reward them.

Since Yup’s launch date, the platform has given out over $1.6 million in the form of curator rewards. Yup actually has a strong relationship with NFT. NFT curators are given rewards such as over $300,000. Some received thousands of dollars as $YUP.

Meanwhile, Distributed Global’s Johnny Steindorff says that the firm believes web3 social to be one of the most exciting categories. He also emphasized that Yup has the potential to lead in this area.

Likewise, the Business Lead of Dapper Labs — Anuke Ganegoda, says that blockchain should be brought to everyday users. What’s more, Ganegoda believes that with social media, the growth of the NFT space, and NFT curation could very well send web3 to the mainstream.

Alex Price (who pre-seeded Yup) and who is currently an advisor at A16z crypto adds his piece. According to Price, traditional social networks thrive on the availability of user data that is secluded and restricted. This is how their business models seem to be built.

Yup is a Web3-composable social network that’s fully open to all. This gives builders the opportunity to become visionaries for new social applications. Price concludes by saying that it is exciting to see what kind of interfaces, feeds, and more will be built on top of Yup’s fully open social graph.

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