A New Era of Web3: Exploring Credential Data Networks

In the booming development of Web3, credential data networks are reshaping the way we interact with the digital world. This innovative technology is fundamentally changing our understanding and management of data, privacy, and digital assets.

In the traditional Web2 environment, data is confined within the databases of various institutions. Web3, as the next generation of the internet, abandons reliance on centralized institutions and instead adopts blockchain technology and smart contracts to ensure data security and transparency. As a core element of Web3, credential data networks empower individuals with complete control over their own data. This means users can autonomously decide how to use, share, and benefit from their data without relying on any intermediaries.

Galxe: Pioneer of the Web3 Credential Data Network

Galxe is a leading Web3 credential data network dedicated to helping brands and developers build engaging products and communities in the Web3 environment. As the largest Web3 task platform and community event platform to date, Galxe has attracted over 30 million users.

Galxe's core goal is to assist Web3 developers in creating higher quality products and more cohesive communities through credential data. At the same time, it provides data administrators with the opportunity to earn rewards by contributing credential data. Galxe's infrastructure supports credential management from various data sources, including on-chain and off-chain credentials.

As a Web3 task platform, Galxe primarily serves two purposes: first, it allows project parties to enhance their products with gamified experiences through NFTs/OAT, thereby attracting new users; second, it helps project parties improve user retention, as users can receive credentials and claim corresponding rewards after using the product.

Since its establishment in 2021, Galxe has achieved significant results. Currently, over 2,100 partners have launched more than 10,000 activities on Galxe, with approximately 150,000 monthly active users.

Team Background

Galxe was co-founded by Charles Wayne and Harry Zhang. Charles Wayne graduated from the University of California, Berkeley, and previously served as the co-founder and CEO of DLive. The team members come from diverse backgrounds, including professionals from various fields such as technology, operations, and marketing.

Financing History

Galxe's fundraising journey has been quite successful:

• Initial financing was conducted from March to May 2021.
• Completed a seed round financing with a valuation of $15 million in August 2021, raising $1.5 million.
• In December 2021, a second round of financing was conducted with a valuation of 50 million USD, raising 5 million USD.
• Completed the third round of financing led by Multicoin in January 2022, with a financing amount of 10 million USD.

Total financing of approximately 25 million US dollars.

In February 2022, Galxe conducted its first token public sale with a valuation of $300 million, raising $15 million.

Core Products

Galxe ID

Galxe ID aims to be the Web3 version of LinkedIn for users, with key features including:

1. A universal identity identifier for users in a Web3 multi-chain/multi-wallet environment.
2. Show the certificates and achievement history collected by users in the Web3 world.
3. As a Metaverse DID, it allows developers to provide customized features or enrich user profiles based on users' digital credentials.

Galxe OAT (On-chain Achievement Token)

Galxe OAT is a lightweight solution that enables event organizers and community managers to easily create and distribute NFT badge events using Galxe's NFT infrastructure and on-chain credential data network, rewarding community members. It records all of a user's achievements throughout their life.

OAT is currently provided on Polygon using the ERC-721 standard and will expand to more application scenarios in the future, including real-world events and life experiences.

Galxe Passport

Galxe Passport is a universal identity for users in the Web3 world, providing a secure and private way to store data. It uses encryption technology to protect users' private information, allowing only the users themselves to decide how to share this information.

Galxe Passport was launched in September 2022. Despite initial controversies surrounding its KYC process and privacy issues, it has obtained over 80,000 KYC certifications in just five months.

Competitive Advantage

Compared to other credential data networks, Galxe's core advantages include:

1. Focus on providing community building tools for project parties, rather than just serving as a service platform.
2. Support diverse data sources, including on-chain and off-chain data.
3. Built a scalable credential data protocol and on-chain credential data network
4. While maintaining To B services, we are also continuously optimizing the experience for C-end users.

Galxe is actively expanding its ecosystem, striving to become one of the essential infrastructures in the Web3 world.