Social Networking Platform Lyvely Receives a Seed Round Funding from Cypher Capital

Social Networking Platform Lyvely Receives a Seed Round Funding from Cypher Capital

By Staff Writer, 02 September 2023

Lyvely, a social networking and content monetization platform with its basis in the United Arab Emirates, has successfully raised an undisclosed sum from Cypher Capital.

Cypher is an early-stage venture capital firm that invests in great founders and software firms, aiming to improve the Web3 experience. They provide strategic value, industry knowledge, and advisory members to their portfolio companies.

Early last month (August), Lyvely soft-launched, and it has since seen a sharp increase in growth and user adoption. Farah Zafar and Dave Catudal, two veteran co-founders, are leading Lyvely in its mission to disrupt the social networking and social e-commerce industries and take on Big Tech's global powerhouses.

“We are the world’s first social networking profile that pays,” says Zafar, who is Lyvely’s Co-Founder and CEO. Every time you post content on Big Tech platforms, they make money. When was the last time you got a cheque or received a payment from Instagram? It just doesn’t work that way in Big Tech because it’s a biased and broken system. Lyvely’s doing it differently. We’re the Platform for the People. 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.”

With the recent funding round led by Cypher Capital, Lyvely has a strategic advantage in the Web3 space. With Cypher Capital’s support, Lyvely will be developing a Cryptocurrency Token that seamlessly integrates into the platform, enhancing the user experience and earning potential on Lyvely.

“We’re designed as a familiar and intuitive Web2 platform, but we’re actually the bridge to a Web3 future for hundreds of millions of people” says Dave Catudal, Lyvely Co-Founder and CXO. “We’re here to create the #1 platform for anyone to monetize their content or services online. With our Token having extensive utility within our platform, we introduce the use of cryptocurrency to the masses, with zero barrier to entry.”

Lyvely has partnered with a global payment processor and a local fintech pioneer to launch a unique creator-focused credit card. This unique card gives platform users who create content the ability to manage and securely store their Lyvely revenues without being constrained by conventional banking. 

Bijan Alizadeh, the brilliant Co-Founder of Phoenix Group and Co-Founder of Cypher Capital, and Bill Qian, the acclaimed Chairman of Cypher Capital, have joined the ranks of Lyvely's esteemed advisory board.

Bijan Alizadeh expressed his enthusiasm for Lyvely, emphasizing the founders' excellence and their ambitious goal of becoming a gateway to Web3 for a broader audience. Lyvely's platform seamlessly combines a tokenized ecosystem with a user experience reminiscent of Web2, ushering in a revolutionary approach to online income generation. Alizadeh and his team believe strongly in Lyvely's future and its boundless potential.

Bill Qian echoed the excitement surrounding Lyvely's future prospects and affirmed their support for the company's journey toward becoming a prominent name in the tech industry, both on a regional and global scale.

Source: Wamda


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