Cassava Network, a platform with Web3 social mission as its core, recently received a strategic investment from the Anubi Foundation. This investment marks an important step for Cassava in promoting its mission to become the largest traffic portal for Web3.
Anubi Foundation Strategic Investment
Anubi Foundation focuses on the application of Web3 ecosystem and has made frequent efforts in the field of DePIN (decentralized physical infrastructure network) in recent years. The investment in Cassava is seen as a trust in its long-term vision and its potential to introduce more users to the Web3 world.
In addition to strategic investments, Cassava Network has also established partnerships with important partners in the Web3 ecosystem, such as WebKey and Coral App. These partnerships will help enhance Cassava’s market coverage and technical capabilities, providing strong support for its growth plans.
Build on existing success
Cassava received investments from over 40 investment institutions in the private placement round, including Youbi Capital, Dragonfly Capital, Spark Digital Capital, NGC Ventures, DWeb3 Capital, TRON, Shima Capital, and SevenX Ventures.
Since then, Cassava has also made significant progress in introducing Web2 users to the Web3 world by partnering with Transsion, a leading mobile phone brand in Africa. Transsion dominates the African mobile phone market, and its huge market share helps Cassava to deepen its presence in Africa, a market with a rapidly growing digital economy. This partnership has enabled Cassava to accumulate more than one million active users in Africa, laying a solid foundation for its future development.
Cassava Network is committed to promoting more Web2 users to enter Web3, which coincides with the goal of WebKey, a project under the Anubi Foundation. It is believed that the two will play a complementary role as allies in future development. This is one of the reasons why the Anubi Foundation invested in Cassava.
Expanding the ecosystem and future goals
With the arrival of this investment, Cassava plans to further expand its ecosystem and develop a data availability layer and data governance system to support the development of cutting-edge technologies such as AI. These initiatives are consistent with Cassava’s long-term goal of building a Web3 data layer and will support future innovations in the decentralized field.
Cassava Network’s recently launched Cassava Network Rewards Hub has been well received by the market, demonstrating the platform’s commitment to continued innovation and user engagement. The Rewards Hub provides users with a new way to interact with Web3 applications, further consolidating Cassava’s position as an important entry point into the decentralized world.
Accelerate the construction of Web3's leading social task platform
The strategic investment from the Anubi Foundation, combined with existing collaborations with Transsion and other key partners, has made Cassava Network a significant force in the Web3 ecosystem. As Cassava continues to build on its success and expand its global influence, the platform is making steady progress towards achieving its vision of becoming the largest traffic portal for Web3, driving sustainable growth and innovation in the decentralized economy.
