Binance Launches Invite-Only Web3 App on iOS
Despite some initial excitement about Binance’s new Web3 social media app, the exchange’s CEO, Changpeng Zhao (CZ), clarified that its use would be mainly for internal communications. The app’s infrastructure is developed by CyberConnect, enabling a limited user base to network and collaborate. CZ emphasized that the app is unrelated to Binance’s upcoming announcements at its Blockchain Week.
Binance Web3 App Available on iOS with Poor Reviews
The Binance messenger app launched on the iOS store with a one-star rating from one review. It will later be available to Android users. CyberConnect, a large Web3 social media platform, uses account abstraction methods to allow users to build applications using smart contracts and enhance decentralized identities.
Blockchain Week in Istanbul Focuses on Web3 Technologies
Binance’s Blockchain Week, set in Istanbul from Nov. 8 – Nov. 9, will bring together over 2,000 Web3 enthusiasts to discuss the future of these technologies. By hosting the event in Istanbul, Binance aims to boost trading volumes affected by recent legal issues and regional exits.
App May Target Key Stakeholders
The new app may be used to attract large investors and partners with exclusive services. Last year, Binance introduced a platform for VIP users to interact with key account managers and other employees. Despite a decline in trading volumes, Binance still leads direct-to-customer derivatives trading according to CCData’s September report.
Hot Take: Binance’s App Launch Faces Criticism
Binance’s new Web3 app has faced criticism due to poor reviews on the iOS store. Despite this, it may serve as an opportunity for the exchange to strengthen relationships with key stakeholders and improve its image amid ongoing legal challenges.
By
By
By
By
By