Singapore based web3 startup Atem Network has recently raised $3 million in its seed round led by INCE Capital. The other investors include GSR Ventures, Mask Network, Mirana Ventures, A&T Capital, Atlas Capital, Foresight Ventures, Zonff Partners, and Michael Zhang, Co-founder of Zhihu.

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According to Atem Network, the fund will be used to build a multichain web3 social platform combining decentralized community and social trades. On the platform, group spaces can be initiated based on tokens and NFTs (both classified as crypto assets) allowing users to chat, trade and govern. This will create a community exclusively for crypto and NFT owners with strong mutual interests. Additionally, the team is working on sketching a user portrait layer based on on-chain data to serve different Dapp developers, including group spaces and channel recommendations in Atem. Unlike web2, all values created in this web3 community will be given back to the community members as rewards. Atem’s long-term goal is to make full use of on-chain data to serve different Dapp developers and become the go-to one stop solution for the social infrastructure of web3.

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Commenting on the fund raising, Leo Li, CEO of Atem Network, said, “We are at the brink of massive changes brought about by Web3 which will undoubtedly become a part of our daily lives in the future. It’s our great honor to have the support from the community and participate in this epic trend. We will keep on building great products for the community, and focus on how to better serve community and social trades.”

The founding team consists of young professionals with experience across top tier tech firms, investment banks and venture capital. Leo Li is a Tsinghua University alumnus. He worked as a product manager at TikTok and a venture capitalist at INCE Capital before he became an entrepreneur in web3. Eric Chan, COO of the project, former Head of Growth Product at Bybit, has 12 years of experience in finance, technology and crypto exchange sectors and served companies including Meta, TikTok, J.P.Morgan and HSBC.

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