HackerNoon, a technology publishing platform that publishes about blockchain, crypto and web3has raised $250,000 for Arweave from leading R&D firm Forward Research.
as per description announced Today, Monday May 15, 2023, Forward Research invested after the purchase of 5,728 shares of HackerNoon Common Stock. The company said the shares were sold at $42.55 per share and a pre-money valuation of $50 million.
HackerNoon shares were previously sold at $8.20 during the company’s equity crowdfunding in 2019 and $11.35 on its strategic investment in 2020.
HackerNoon Backs Up Entire Library to Web3
HackerNoon CEO David Smook said in a statement that the partnership with Forward Research will help his company advance its publishing with Web3 technologies. Therefore, as part of the partnership, HackerNoon agreed to back up its entire library of content on Arweave’s decentralized storage network.
The move will make the platform’s content permanently available on Web3, with the company recently surpassing over 1 billion published words. Smooke said the cost of integration with the Arive ecosystem is about $58, adding that the long-term goal is to reduce the cost even further.
He added:
“We are still in the early days of a truly decentralized internet, but we are thrilled to be a small part of moving that cost toward zero when it comes to hosting and distributing digital text.”
NFTs and other Web3 integrations are already available on HackerNoon
As noted above, HackerNoon plans to use the investment to boost its integration with Web3. However, the platform had already introduced features such as signing up/login with its wallet and NFTs in the form of profile photos and story embeds as part of the march towards new technology.
It also has NFT badges for the winners of its annual Noonie Tech Awards, crypto price page Blockchain game rankings for bitcoin, ethereum and other digital assets and for the likes of Axi Infinity and Gods Unchained.
HackerNoon was founded in 2016 and has over 35,000 contributing writers, and 4 million monthly readers.
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