Blockchain

SoMon Becomes Fastest-Growing Web3 Social App with 300,000 Transactions in Two Weeks

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    Hong Kong, Hong Kong, July 21st, 2024, Chainwire

     

    SoMon, a decentralized Web3 forum with a vision to create a space for user-owned content and connections, recently launched its app on Base and has already gained more than 300,000 on-chain transactions in 14 days since its launch, making it the most active and fastest-growing social app in the Web3 space.

    SoMon, short for Social Monster, allows users to monetize and create communities (Tribes) around their favorite topics, passions, creators, and fandoms. It is the first app built on OpenSocial Protocol, a composable infrastructure layer for building social applications, and also the first Web3 social app that is truly gasless, allowing it to lower the barrier of entry and onboard users beyond the crypto community.

    Having launched its mobile app on 19 June 2024, around a month ago, it has garnered over 30,000 on-chain registrations in just two weeks. Today, the community is growing rapidly, with over 2 million social engagements among 300+ different Tribes (communities) and its 80,000+ users.

    “Crypto is all about community, but instead of creating communities for users, we want communities to be built by users. SoMon is a user-curated space where people are able to connect with one another while taking charge and reaping the benefits of their own social achievements at the same time,” said Sean Tao, CEO & Co-Founder of SoMon.

    SoMon users started minting their own Tribes using various tools and fragmented ownership powered by NFT technology after the new feature was released on 17 July 2024. Users create content, and the platform is monetized through a tool called ‘Megaphone’, allowing users to pay for promotional visibility, with the revenue being redistributed to Tribe owners and stakeholders.

    SoMon is currently in its first season, ending on 31 July 2024. In this season, users compete to gain points through interactions and earn badges by climbing to different leagues. At the end of the season, SoMon will officially launch its community token, $OwO, which will be airdropped to the community at the end of the first season, with the first airdrop releasing 3% of its total supply this 1 August 2024, and 1% of its total supply for the subsequent seasons.

    During upcoming seasons, SoMon is focused on activating the community economy via Tribe Summer campaign for users to create and engage with their bot-free community.

    About SoMon

    Social Monster (SoMon) is an open topic-based Web3 social app forum powered by OpenSocial Protocol. It serves as a space where users can create vibrant and engaging communities (Tribes) centered around their passions and fandoms. SoMon ensures that Tribes, content, and social connections are wholly owned by users.

     

    Contact

    Public Relations Manager
    Kelvin Yeo Jun Hao
    Everest Ventures Group
    [email protected]

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    VCI Global Secures Additional US$30 Million Investment Commitment from Alumni Capital LP to Propel Its AI Cloud Computing Business Forward in Q2 2025

    2024-10-01T21:01:00Z

    KUALA LUMPUR, Malaysia, Oct. 01, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or the “Company”) today announced a new investment commitment of US$30 million from Alumni Capital LP (“Alumni Capital”). Following an earlier investment of US$5 million from Alumni Capital, this additional US$30 million, in exchange for VCI Global common shares, will reinforce VCI Global’s strategic push into its AI cloud computing business, particularly for its planned developments in the second quarter of 2025. VCI Global retains the right, but is not obligated, to draw on this amount, providing the Company with the flexibility to access the funds as needed, while preserving the option to forgo the drawdown if other resources become available or conditions change.

    With an approved capital infusion of US$30 million, VC AI Limited (“VC.AI”), a new subsidiary of VCI Global, will be launching the AI Computing Center (AICC) in Malaysia. This computing center, equipped with 512 NVIDIA H200 Tensor Core GPUs, is estimated to rank among the top 30 globally, enabling the efficient processing of vast amounts of data at high speeds—essential for generative AI and high-performance computing applications.

    “We are confident that this US$30 million investment from Alumni Capital will significantly empower our strategic growth in AI cloud computing. It enables us to establish a world-class AICC in Malaysia, serving clients globally, especially in Southeast Asia. We are fully committed to leveraging these resources to foster innovation and advance the AI landscape,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

    About VCI Global Limited

    VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.

    For more information on the Company, please log on to https://v-capital.co/. 

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    CONTACT INFORMATION:

    For media queries, please contact:

    VCI Global Limited
    [email protected]


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