Republik raises $6m to help content creators earn money with Web3

Photo credit: Republik

Social media influencers can pull in millions of dollars from posting on platforms like TikTok and YouTube. But that’s assuming they’ve built a big enough following in the first place. For smaller creators, monetizing their presence on such platforms can be difficult.

Social media startup Republik looks to solve this through Web3. The Singapore-based company’s platform – still in beta phase – allows creators and their communities to earn tokens based on interactions and referrals as well as by supporting fellow creators.

The company recently raised US$6 million in seed funding, which it said pushes its valuation to US$75 million.

Funding details

• Funding amount: US$6 million
• Other investors: OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin Pte. Ltd., FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, UOB Venture Management (大华创投管理)
• Stage: Seed
• Source

Republik’s platform allows users to create and comment on content using images and short videos. It also provides Web3 creator tools for users to make and manage their own tokens, NFTs, and DAOs.

According to the company, this lets creators take home “a significantly larger share” of their earnings. It has already gained over 500,000 users in its current beta phase, the company added.

The startup plans to use the funds to speed up the development of its platform and Web3 creator tools, as well as to grow its team and global presence.

More details