With $2-4M Fundraising in Seed Stage, KNN3 Network Rushes to Provide Multi-Chain Relationship Aggregation Protocol for d/App and Smart Contract – Bitcoin News Press Release


PRESS RELEASE. Web3 relationship aggregator KNN3 Network announced that it raised $2.4 million in a seed round led by HashGlobal and Liang Xinjun, former co-founder of Fosun International. Mask Network, MetaWeb Venture, Eniac Venture, Tess Venture, Stratified Capital, Fundamental Laboratory, Incuba Alpha, Zeuth Venture, Cogitent Venture, Atlas Capital; Impossible Finance, RSS3, ShowMe and Yan Xin & Potter Li, the co-founders of ETHsign also participated in the round. The KNN3 network will use the $2.4 million in funding for protocol development and product market adaptation.

From these struggles and pains over data isolation and cross-platform redundancy, it can be agreed that a one-size-fits-all solution for interoperability is the only way forward. With such conviction, these investors decided to support KNN3 Network in driving a future of multi-channel relationship aggregation and a diverse and decentralized world.

The vision of the KNN3 network

After a paradigm shift, decentralized application processors are now at the center of Web3, bringing Peer-to-Peer transactions and optimized counting of state changes to the world.

“While smart contracts and distributed virtual state machines underpin blockchains, decentralized WWW solutions are truly giving ownership back to users and restoring democracy to the web,” said Thomas Yu, co-founder of KNN3 Network. “However, it is necessary to keep updating the knowledge of Web3 to constantly generate more flexible and innovative ideas. Without permissionless cross-platform data collaboration, individual apps simply run in silos. For example, Web3’s flywheel will fail to set the crypto universe in motion. It is therefore imperative to have a more sophisticated protocol to increase the reusability of web3 data. As a multi-chain relationship aggregation protocol for dApps and analytics, KNN3 Network fulfills this role perfectly.

What is the KNN3 network?

KNN3 Network provides Web3 graph solutions for relational aggregation across multiple blockchain universes to empower social dApps and AI analytics. It aims to become a community-driven data curation protocol that enables on-chain data collaboration.

“The team believes in a relationship creating meanings by converting user footprints into relational connectors that collectively form a massive graph network,” said Thomas Yu.“The team is excited to be part of the Web3 wave and hopes the KNN3 Network can get the ball rolling.”

If a user is a web3 dApp builder, they can seamlessly retrieve web3 users’ extensive relationship data using KNN3’s high-performance GraphQL. The KNN3 network collects and compiles multiple dimensions of relationships through historical user behavior and status.

If a user is a web3 analyst, KNN3 allows them to conduct structural and relational queries in one place. Additionally, it provides SQL-style graphical query components for all SQL-enabled BI/analytics platforms to integrate with their existing query services. Additionally, algorithm developers can create and train their AI/ML algorithms with KNN3’s graphical computing environment solutions.

Permissionless Cross-Platform Data Collaboration Solutions

“Although AI analytics toolkits enable users to extract value from data on individual platforms, these applications typically operate in isolation. When such applications segment the market, users navigate through an extremely complex environment. In short, it lacks built-in middleware to enable more advanced Web3 use cases. as Thomas Yu explained, “The company wants to move forward without compromising the core values ​​of crypto, i.e. composability and plug & play. KNN3 Network provides such one-stop solutions for on-chain data-driven dApps. Compared to conventional SocialFi dApps integrated with SaaS (software as a service), the KNN3 network provides a trustless protocol with decentralization as a service (DAAS) and true censorship resistance.

Use case

In the current iteration, KNN3 Network provides data solutions for web3 dApps for social discovery and user empowerment. Specifically, it has already helped some dApps maximize their value delivery – it provides Quest3 with the Virtual Credentials Service, which is the fundamental architecture of Quest3’s chained quest system used to validate whether a user Web3 is eligible to perform a specific task; it provides MetaMail and Shorum with social graphics. KNN3 provides a trustless analytics environment for user recommendation algorithms based on real-time on-chain data to encourage users to connect with more friends with just one click.

It also provides AI-friendly solutions to Algorithm Registry. KNN3’s easy-to-use graph database and open algorithms enable KNN3 to establish an open platform for users to independently choose algorithms and submit their algorithms. Going forward, the KNN3 network aims to be a data collaboration building block to enable mix-dApp, SocialFi, open AIs, and more.

Target customers

KNN3 Network’s permissionless relational aggregation solutions and virtual credential services mainly target SocialFi, blockchain credits protocols and Web3 campaign tools. KNN3 Network also provides ecosystem tools to enable analytics platforms to extend their database to seamlessly integrate web3 multi-channel relational data. KNN3 Network’s vision is to enable NFT/DAO/GameFi promoters to onboard more Web3 users while giving them a better on-ramp experience with its profiling/activation toolkits. It also enables Web3 dApp builders to provide better Web3 social experience with its multi-chain graph solutions.

About KNN3 Network

KNN3 is a Web3 cross-channel relationship aggregator that enables social discovery and user empowerment. KNN3 Network provides graph solutions for web3 multiverse relational aggregation to enable d/App and AI social analytics. KNN3 aims to become a community-driven data curator protocol for on-chain data collaboration.

Website | Twitter | Discord | Mirror | Medium

This is a press release. Readers should exercise due diligence before taking any action related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.


Bitcoin.com is the premier source for all things crypto. Contact the media team at [email protected] to discuss press releases, sponsored posts, podcasts, and other options.

Image credits: Shutterstock, Pixabay, Wiki Commons

Source link


Comments are closed.