Dubai-Based SocialFi Platform Lyvely Secures Investment

Lyvely, a Dubai-based social finance (socialfi) platform, has secured investments from global crypto exchange M2, Phoenix Group, and Cypher Capital. The company is focused on advancing creator monetization within the Web3 space.

Lyvely's Investment and Future Plans

Lyvely plans to deploy its secured equity investment into product development and growth. M2's token investment will be used for on-chain innovation within the creator and freelancer economy. This includes providing creators and users with a suite of decentralized finance (DeFi) tools, forging strategic partnerships, and listing tokens on tier 1 exchanges.

Lyvely's Hybrid Approach to SocialFi

Lyvely distinguishes itself with a hybrid approach to socialfi. Its native utility token, built on the Base network, alongside a suite of DeFi tools, facilitates a seamless on-ramp off-ramp payment mechanism. The user interface (UI) and user experience (UX) are designed to be intuitive, mirroring familiar web2 flows.

Dubai's Role in Web3

The investment in Lyvely underscores Dubai's commitment to becoming a global leader in virtual assets. The company's founders, Farah Zafar and Dave Catudal, highlight Dubai's role in driving Web3 adoption. They envision a future where creators, freelancers, and digital entrepreneurs are rewarded for their contributions.

Lyvely's Vision and Impact

Lyvely aims to create a secure and accessible environment for mainstream users to enter the crypto world. The platform provides a bridge between Web2 and Web3, offering benefits like micro-payments, real-time transfers, and enhanced community building. With a variety of monetization streams, Lyvely has already onboarded over 25,000 creators before its global launch.

Lyvely's Partnerships and Integration

To further bridge the gap between mainstream and Web3 users, Lyvely has partnered with fintech providers to offer digital wallet creation using social logins. This allows users to purchase, store, and trade the LVLY token directly from their Lyvely profiles.

Lyvely's Focus on Security and Transparency

Lyvely prioritizes security and transparency. The platform has received a perfect 10/10 score on Hacken's smart contract audit, covering areas such as security, code quality, test coverage, and documentation quality.

Lyvely's Role in the Creator Economy

Lyvely is committed to empowering creators and freelancers in the digital economy. By offering a range of blockchain-based monetization tools and a user-friendly platform, Lyvely aims to revolutionize the way creators engage with their audiences and monetize their content.

Dubai's Web3 Ecosystem

Lyvely's success is a testament to Dubai's growing Web3 ecosystem. The city has emerged as a hub for blockchain innovation and entrepreneurship. With a supportive regulatory framework and a thriving community of developers and investors, Dubai is poised to become a leading center for the future of decentralized technologies.