- GroupFi has secured seed funding from Web3 investors, including Blockwater and Funnyface, to advance its feeless, on-chain messaging platform.
- The company plans to migrate from Shimmer to the Tangle Application Network (TAN) as part of its effort to enhance scalability and security in decentralized communication.
GroupFi, a blockchain-based messaging platform, has secured seed funding from institutional investors, including Blockwater and Funnyface, along with key figures in the Web3 space.
The funding aims to support the company's vision of providing feeless, decentralized communication.
According to a report, GroupFi also announced plans to migrate from Shimmer to the Tangle Application Network (TAN) as part of the IOTA Foundation’s Rebased plan. The move aligns with its goal of ensuring frictionless and cost-free on-chain messaging, which the company sees as essential for the broader adoption of Web3 applications.
GroupFi offers an entirely on-chain chat solution without transaction fees, catering to DAOs, NFT communities, and other decentralized networks. The company believes that adopting a feeless and scalable network like TAN will enhance efficiency, security, and usability in decentralized social platforms.
“We are excited to embark on this next phase of growth with the support of our investors and the Web3 community,” said Garrett Jin, co-founder of GroupFi.
“Migrating to TAN aligns with our core belief that decentralized communication should be free, frictionless, and accessible to all.”
The adoption of TAN, based on Tangle's distributed ledger architecture, is expected to improve scalability and security while reducing operational costs. The funding and migration indicate GroupFi’s intent to expand its role in the Web3 ecosystem by offering a decentralized alternative to traditional messaging platforms.
As blockchain technology evolves, the company aims to capitalize on emerging use cases for on-chain communication, particularly within decentralized governance structures and tokenized communities. With backing from industry investors and a defined technological roadmap, GroupFi is positioning itself as a key player in Web3 messaging solutions.
Edited by Harshajit Sarmah
