REPUBLIK, a Singapore-based technology company, has announced the successful conclusion of its $6 Million seed funding round.

The round saw participation from leading investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management, REPUBLIK said in a statement on Wednesday.

The capital raised is instrumental in building REPUBLIK’s platform and developing cutting-edge, web3 creator tools on the blockchain.

Currently in beta across web app, iOS, and Android platforms, REPUBLIK said it has garnered substantial traction, empowering creators with new ways to interact and get rewarded for their contributions to the platform.

“For too long people have given their time, attention and creativity to existing platforms for almost nothing in return. REPUBLIK is going to change that by ensuring that the value of the community is fairly distributed,

“We’re excited to have investors who share in our vision and partners that are helping us build a true community-owned platform,” said Daniel He, REPUBLIK’s Chief Executive Officer.

It is noted that REPUBLIK uses Web3 technologies to streamline the entire process, drastically reducing costs borne by Creators.

This results in creators keeping a significantly larger share of their earnings, but also enables a token-based reward system that allows everyone to earn for interacting with content, referring friends and supporting Creators.

While legacy platforms capitalize on user attention without direct compensation, REPUBLIK believes that online communities have great value, and that this value should be fairly distributed to the people who helped create it.

As such, XP in the app represents how much value a user brings, while RPK will be a freely traded token representing the value of the community. The more XP a user has, the more RPK will be distributed to them.

Republik, which also has offices in Berlin and Los Angeles, aims to connect creators to their communities while rewarding everyone based on their interactions.

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