Blockchain-based social platform Freechat has completed a funding round of $80 million, with a post-investment valuation of $800 million.

According to BlockBeats news on January 8th, blockchain social platform "Freechat" has recently completed a financing round of $80 million, with a post-investment valuation of $800 million, according to 36Kr. After this round of financing, Freechat will focus on privacy and security, user data control, and further enhance its Web3 features, creating a decentralized, open, and transparent social network platform for the global market. Founded in 2022, Freechat completed a seed round financing of $2 million in August 2022. In early 2023, Freechat officially launched global servers, and the planned modules and functions for the subsequent content ecosystem have been launched in the past few months. Freechat founder Jack Long revealed that in the early stages of project development, the team purchased 78 Bitcoins as reserves for $16,000, spending $1.248 million. Based on the current Bitcoin price of $44,000, the project's Bitcoin reserves have reached $3.432 million, with a floating profit of nearly $2.2 million, laying a financial foundation for Freechat's future development in overseas markets.