RabbitHole Completes $18M Series A Funding Led by Greylock and TCG Crypto

RabbitHole Completes $18M Series A Funding Led by Greylock and TCG Crypto
  • RabbitHole, an on-chain interactive incentive platform, announced the completion of $18 million in Series A financing. The funding will support its efforts to make Web3 more elitist through on-chain certification, expanding its efforts to help the protocol combat speculation.
  • The report indicates that RabbitHole hopes to guide users to complete a series of on-chain operation tasks, and the tasks will be rewarded with tokens. Users can choose to complete up to 100 tasks, and the tasks will be rewarded by RabbitHole.
  • The tasks are divided into different levels, with the first level being free and the second level costing 0.2 ETH and the third level costing 0.8 ETH. The tokens earned through the Rabbit Hole platform will be used to pay for the processing fee of the tasks.
  • The company hopes to create a “certified network” similar to the process used by Facebook to verify its users’ identity through the company’s “Facebook Login.

Is it worth investing in RabbitHole? What is its future goals of RabbitHole?

  • The future of RabbitHole is not known,” says John Paul, CEO and founder of RabbitHole. “We are creating the future of the RabbitHole, and we are going to make it happen.”
  • “RabbitHole is the first step in the process of creating a new way of thinking about how we organize and use data.”
  • The technology is based on a new kind of digital microscope – a RabbitHole, a device that allows for the creation of a micro-cavity with a diameter of just a few hundred nanometres.
  • It is an on-chain incentive platform that helps to bring more elitist features to the protocol. It is a company based in San Francisco, California, United States. They have now raised $18 million in Series A funding.
  • The Rabbit Hole platform is the first web 3.0 application to achieve on-chain verification of its users, and the first to deploy a governance system based on tokenized securities to create economic incentives for community development. RabbitHole is a social experiment of the future and a revolution in decentralized applications.

Overview of RabbitHole

  • Rabbit Hole has raised $18m in funding over the past two years, including $8.5m from Accel Partners. The start-up is currently the most funded enterprise in Africa with a revenue of $90m.
  • For new users, it’s a way to learn by doing, earn cryptocurrency along the way, and build credentials to become contributors to emerging protocols. For protocols, it is a method of identifying, acquiring, and engaging quality contributors based on capabilities. It is a way to improve the quality of crypto-economics, and to make new protocols more efficient.