Within a span of just one month, UXUY, a web3 social graph for assets, garnered an impressive user base of 300,000 globally. UXUY quickly gained immense popularity in Indonesia. The project’s company, Happy Fair PTE. LTD was incorporated in Singapore.
UXUY, as stated on acra.gov.sg, has garnered support from renowned investors including Sequoia and Zhenfund.
According to the information provided on its website, the UXUY protocol is a web3 decentralized social graph designed to safeguard, monetize, and optimize users’ assets. Unlike other web3 social graphs, UXUY places a stronger emphasis on social assets and trading rather than communication. The platform believes that each individual’s network is a personal asset that belongs to them. Through UXUY, users have the opportunity to truly own their real-world connections and data on the blockchain, while enjoying seamless web2 experiences 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 accumulate more tokens. In the future, UXUY plans to introduce additional features and applications to further enhance its ecosystem.
What problems does UXUY Solved?
The UXUY platform aims to address several key problems within the realm of social networks and asset management:
- Ownership of social data/assets: In the current web2 landscape, social assets are often exploited by large players without proper consent or compensation to users. UXUY seeks to rectify this issue by providing a framework where individuals have full ownership and control over their social data and assets.
- Enhancing trust in social interactions: By combining real-world social networks with blockchain technology, UXUY aims to bolster trust in social interactions. The transparency and immutability offered by blockchain can help verify and authenticate users’ interactions, creating a more trustworthy environment for users to connect and engage.
- Minimizing entry barriers for web2 users: UXUY recognises the importance of catering to 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 existing real social networks. By leveraging familiar interfaces and integrating seamlessly with established platforms, UXUY lowers the barriers for web2 users to adopt web3 technologies
By addressing these problems, UXUY strives to create a more equitable and secure social network ecosystem where users have ownership over their data, trust is strengthened through blockchain technology, and the transition to web3 is made accessible and user-friendly for web2 users.
Features of UXUY
UXUY offers a range of prominent features aimed at facilitating social connections and asset management. One of its key features is the MPC-based wallet, which enables users to log in using their existing web2 accounts and IDS, providing a familiar web2-like experience while eliminating concerns about private key management. Additionally, UXUY incorporates Web3 DIDs, which serve as a bridge between user’s web2 UIDs and their real-world connections and information, facilitating seamless integration. The platform also includes Zero-knowledge empowered social profiles, empowering users to retain control over their self-sovereign identity( SSI) and social relationships while ensuring privacy protection.
These features have been specifically crafted to enable users to create web3 social networks and effectively manage their assets, all while delivering a safe, efficient, and web2 friendly experience. Moreover, these capabilities seamlessly support various product usage scenarios, including social trading, social gaming, social marketing, and more,
UXUY’s Founding Team
UXUY’s founding team comprises experienced and successful engineers and product managers with diverse expertise. Their collective knowledge and technical proficiency enable them to develop innovative solutions and create a user-centric platform in the web3 space. With a proven track record of achievements in previous ventures, the team is well-equipped to tackle the challenges and drive the success of UXUY.
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.
For those interested in delving deeper into UXUY, Do follow their social media channels to stay updated on the latest news, announcements, and developments related to the project.
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Founder of UXUY
I’m a Cryptocurrency Author and I have been writing about Cryptocurrencies for over 2 years now. I have written many articles on the subject and have been interviewed by some of the biggest names in the industry. My work has been featured on major publications such as Forbes, CoinDesk, and more. I am passionate about Cryptocurrencies and believe that they have the potential to change the world. I am always looking to learn more about this fascinating industry and share my knowledge with others.