The Pioneer of Web3 Credential Data Networks: Galxe

Introduction

Web3 is reshaping our relationship with data, privacy, and digital assets. As the next phase of the internet, Web3 no longer relies on centralized authorities to manage data but is based on blockchain technology and smart contracts to ensure the security and transparency of data. In this emerging digital world, credential data networks play a key role, allowing individuals to have complete control over their data and decide how to use, share, and benefit from it.

Project Introduction

Galxe (formerly known as Project Galaxy) is a leading Web3 credential data network dedicated to helping brands and developers build powerful Web3 products and communities. As the largest Web3 task platform and community engagement platform to date, Galxe has over 30 million users.

Galxe's infrastructure supports managing credentials through multiple data sources. For on-chain credentials, curators can contribute subgraph queries or static snapshots; for off-chain credentials, Galxe integrates various data sources. As a Web3 task platform, Galxe helps project teams create gamified experiences, attract new users, and improve user retention.

Since its establishment in 2021, Galxe has collaborated with over 2,100 partners, initiated more than 10,000 activities, and has approximately 150,000 monthly active users.

Team Introduction

Galxe was co-founded by Charles Wayne and Harry Zhang. Charles Wayne graduated from the University of California, Berkeley, and served as a co-founder and CEO of a live streaming platform.

Financing Situation

Galxe has undergone multiple rounds of financing since its establishment:

• Early financing was conducted from March to May 2021.
• Completed a $1.5 million seed round financing in August 2021, with a valuation of $15 million.
• Completed a $5 million Series A financing in December 2021, with a valuation of $50 million.
• Completed a $10 million Series B financing led by a well-known investment institution in January 2022.

A total financing of approximately 25 million USD. In February 2022, Galxe conducted its first token public sale, raising 15 million USD with a valuation of 300 million USD.

Product Introduction

Galxe ID

Galxe ID aims to be the Web3 LinkedIn for users, featuring the following main functions:

1. Universal Web3 identity identifier for users
2. Showcase users' credentials and achievement history in the Web3 world.
3. As a metaverse DID, developers can integrate the Galxe ID toolkit to provide personalized features for users.

Galxe OAT (On-chain Achievement Token)

Galxe OAT is a lightweight solution that allows event organizers and community managers to leverage Galxe's NFT infrastructure and credential data network to create and distribute NFT badge events. These OATs represent a digital record of all achievements in a user's lifetime.

OAT is currently issued on Polygon using the ERC-721 standard, and will expand to more application scenarios in the future, including real-world events and experiences.

Galxe Passport

Galxe Passport is the user's universal Web3 identity, providing a secure and private way to store data. Users have complete control over the storage and sharing of their personal information. Galxe Passport was launched in September 2022, and although it faced controversy initially due to KYC processes and privacy issues, it achieved over 80,000 KYC certifications in just 5 months.

Product Features

Galxe's core advantages compared to other credential data networks include:

1. Focus on providing community building tools and solutions for project parties.
2. Supports a wide range of on-chain and off-chain data sources, providing flexible task combination options.
3. Built an open credential data protocol that supports third-party development task platforms, advertising platforms, and on-chain credit systems.
4. While maintaining To B services, we are also continuously optimizing the experience for C-end users.

Galxe is striving to become a key infrastructure that connects projects, developers, and users within the Web3 ecosystem, making significant contributions to the future development of Web3.