Towns launch on-chain messaging platform with $25.5 million funding
- Towns is a new messaging platform that utilizes blockchain technology to create communities based on verified shared experiences.
- The platform offers decentralized ownership and end-to-end encryption, distinguishing it from traditional messaging apps.
- The recent funding will enable Towns to expand its team and enhance its platform, signaling a new era in online community engagement.
In October 2024, a new messaging platform called Towns was launched, raising $25.5 million in funding from Andreessen Horowitz. This platform is designed to facilitate community building based on verified shared experiences, utilizing blockchain technology for decentralized ownership and enhanced security through end-to-end encryption. Users can join groups by verifying their experiences, such as attending specific events or making certain transactions, which helps to filter out bots and unwanted participants. The platform allows for both token-gated and open communities, ensuring accessibility for users without crypto wallets. CEO Ben Rubin emphasizes the importance of shared experiences over traditional identifiers like phone numbers, aiming to create a more meaningful connection among users. The funding will be used to expand the team and further develop the platform and its underlying technology, River Protocol, marking the beginning of what Rubin believes will be a significant evolution in online community engagement.