Global Crypto Exchange M2 Joins Phoenix Group And Cypher Capital As Lead Investors In Dubai-Based Social Monetization Platform Lyvely Founded by tech entrepreneurs Farah Zafar and Dave Catudal, Lyvely stands out for its hybrid approach to disrupting socialfi.
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Dubai-based social finance (socialfi) advancing the scope of creator monetization Lyvely has enlisted global crypto exchange M2 among its investors, alongside ADX-listed crypto group Phoenix Group and global Web3 VC fund Cypher Capital.
Lyvely will be deploying previously secured equity investment into product development and the corporation's growth, while M2's recent token investment will be deployed into on-chain innovation for the creator and freelancer economy. This includes offering creators and users a suite of decentralized finance (DeFi) tools, as well as driving strategic partnerships and token listings on tier 1 exchanges. Lyvely's Whitelist Airdrop was launched recently, with the public listing slated for Q4 2024.
Founded by tech entrepreneurs Farah Zafar and Dave Catudal, Lyvely stands out for its hybrid approach to disrupting socialfi. The platform's native utility token is built on the Base network, alongside a suite of DeFi tools that enable a seamless on-ramp off-ramp payment mechanism, while the UI/UX follows a familiar web2 flow for an intuitive user experience.
Speaking on the successful token pre-sale and investment raise, Dave Catudal, co-founder and CXO of Lyvely, said, "This investment will enable us to establish a solid foundation in governance, security and fintech tools, as we work to build a tokenized ecosystem that bridges the growing divide between traditional social media users and innovations in Web3."
M2 CEO Stefan Kimmel said, "Our investment is not just one made into Lyvely's ecosystem, but the wider Web3 one, for it seeks to reward creators, freelancers, and digital entrepreneurs - which will ultimately contribute to mainstream adoption. Just like M2, Lyvely is a further example of a UAE born project, focused on making the region a leading global one for virtual assets."
Related: The UAE's Crypto Powerhouse: Munaf Ali, Co-Founder And Group Managing Director, Phoenix Group
Lyvely recently received a perfect 10/10 score on Hacken's smart contract audit across parameters such as security, code quality, test coverage and documentation quality. "Through LVLY, we aim to introduce a safe and secure environment for millions of mainstream users to venture into the crypto world, and experience the wider benefits of tokenization, including micro-payments, real-time transfers, and improved community building and quality engagement. We know that merging Web2 and Web3 worlds is the breakthrough that SocialFi needs, and we have the vision and infrastructure to lead this movement," Dave added.
With a variety of monetization streams available, Lyvely has already onboarded over 25,000 creators before their global launch. To ensure optimal real-world value for holders of the LVLY token, the platform has partnered with some of the leading fintech providers to offer digital wallet creation using a social login, as well as on- and- off ramping of the token directly from the Lyvely platform. This move has been designed to bridge the gap between mainstream and web3 users, and enable everyone to purchase, store and trade $LVLY straight from their Lyvely profile.
Related: Committed To Success: Farah Zafar, Co-Founder And CEO, Lyvely
