UAE –  Dubai-based social networking and content monetisation platform Lyvely has secured a Seed round from Cypher Capital, according to a press release.

The funding round will enable Lyvely to boost business in the Web3 space and develop a Cryptocurrency Token that seamlessly integrates into the platform, which, in turn, will enhance the user experience.

Cypher, an early strategy venture firm, invests in key tech companies that evolve the Web3 experience. It adds strategic value, industry expertise, and advisory members to their portfolio companies.

Established by Farah Zafar and Dave Catudal, Lyvely seeks to compete with big tech global giants and transform the current social networking and social e-commerce landscape.

Zafar, Co-Founder and CEO of Lyvely, said: “Our commitment to our users is to reward them fairly for their contribution to the Lyvely ecosystem. Our mission is to empower people to thrive in this new digital age.”

Bijan Alizadeh, Co-Founder of Cypher Capital, said: “Lyvely is a company that excites us because of the quality of the founders, and the vision they have for becoming the bridge to Web3 for the masses.”

“With Lyvely’s platform, they have seamlessly integrated a tokenized ecosystem using a Web2 user experience and have created a fully integrated platform that revolutionizes the way people make money online,” Alizadeh noted.

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