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The social graph platform for Web3 named UXUY managed to reach 300,000 users in one month globally. The project company is Happy Fair PTE. LTD in Singapore. UXUY, as stated on acra.gov.sg, has received support from well-known investors including Sequoia and Zhenfund. What is UXUY and what interesting features does it provide? Check out the following article.
According to the information provided on the website, the UXUY protocol is a web3 decentralized social graph designed to protect, monetize and optimize user assets. Unlike other social3 graphic webs, UXUY places more emphasis on social assets and trading than communication. The platform believes that each individual network is their personal asset.
Through UXUY, users have the opportunity to connect with their real world data on the blockchain, while enjoying a seamless web2 experience and maximizing their social assets. Currently, UXUY operates within the Telegram system, allowing users to earn tokens by linking their accounts. By increasing the number of linked accounts, users can collect more tokens. In the future, UXUY plans to introduce additional features and applications to further enhance its ecosystem.
What problems does UXUY Solved?
UXUY aims to solve some of the main problems in the realm of social networking and asset management, some of which are as follows:
Ownership of social data/assets
In today’s web2 landscape, social assets are often exploited by big players without proper consent or compensation to users. UXUY seeks to fix this problem by providing a framework where individuals have full ownership and control over their data and social assets.
Increases confidence in social interactions
Enhancing trust in social interactions
By combining real-world social networks with blockchain technology, UXUY aims to increase trust in social interactions. The transparency and immutability offered by blockchain can help verify and authenticate user interactions, creating a more trustworthy environment for users to connect and engage.
Minimizes barriers to entry for web2 users
UXUY recognizes the importance of serving web2 users and ensuring a smooth transition to web3. To achieve this, the platform provides user-friendly wallet, DID and profile solutions that are based on real existing social networks. By leveraging familiar interfaces and seamlessly integrating with established platforms, UXUY lowers barriers for web2 users to adopt web3 technologies.
By addressing these issues, UXUY seeks to create a more equitable and secure social network ecosystem where users have ownership of their data, trust is strengthened through blockchain technology, and the transition to web3 is accessible and user-friendly for web2 users.
Features of UXUY Protocol
UXUY offers a variety of prominent features aimed at facilitating social connections and asset management. One of its key features is an MPC-based wallet, which allows users to log in using their existing web2 and IDS accounts, providing a familiar web2-like experience while eliminating concerns about private key management.
Additionally, UXUY incorporates the Web3 DID, which serves as a bridge between web2 UID users and their real-world connections and information, facilitating seamless integration. The platform also includes social profiles that can be accessed without knowledge, empowering users to maintain control over their self-sovereign identity (SSI) and social relationships while ensuring privacy protection.
These features have been specifically created to enable users to create web3 social networks and manage their assets effectively, while providing a safe, efficient and friendly web2 experience. Additionally, these capabilities seamlessly support a wide range of product usage scenarios, including social commerce, social gaming, social marketing, and more.
UXUY Founding Team
UXUY’s founding team consists of experienced and successful engineers and product managers with diverse skill sets. Their collective knowledge and technical capabilities enable them to develop innovative solutions and create user-defined platforms in the web3 space.
UXUY’s goal
UXUY’s goal is to become a simple and value-creating infrastructure product for both Web3 and Web2 users, bring 100 million users into Web3, and be a top social-nomics.
Those of you interested in learning about UXUY and getting the latest news, announcements and developments regarding the project can be found on Twitter and telegram.
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