In an industry first, yWhales has become the first Web3 startup to fully fund its seed round of investment from its global community comprised of the top business innovators, entrepreneurs, and investors. The new Web3 ecosystem has raised $5 million at an $80 million valuation.

yWhales’ funding success has come at the height of a bear market, where venture capital and traditional investors have been hesitant to take on new risks. Raising the full seed funding without external investors in such a tough global economic environment makes yWhales’ funding milestone even more notable.

Jay Steinback, CEO of yWhales, says, “Technological giants dominate Web2 dictating how every web-based company and user should work. Web3 puts the power back into the hands of individuals. It connects people and networks in a way that will redefine how we work.

“Our funding success shows just how powerful the Web3 community can be. It is a resounding vote of confidence in our business, and it validates our belief that the world is on its way to a web shaped by communities of passionate, engaged individuals. Just like ours. This is the power of our community and our team”, says Zemfira Khisaeva, President of yWhales.

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Paving the Way from Web2 to Web3

While other Web3 startups pitch consumers to join their platforms, yWhales is doing things differently . The company is curating an exclusive community of CEOs, business leaders, and entrepreneurs from around the world who believe that the interconnected, decentralized Web3 model will become the foundation of how the world lives, works, and plays by paving the way for companies to come together to define the future of Web3.

yWhales aims to break down some of the barriers to an organization’s Web3 success. It uses the collective knowledge and experience of its community to help new startups and existing businesses capitalize on Web3 opportunities.

Through its network of forward-thinking business leaders, yWhales continues to expand the reach of Web3 initiatives by educating tech professionals to maximize the benefits Web3 offers and facilitating collaboration on new projects within the space. It is taking the future of the technology and bringing it into today’s reality.

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