Blockchain
Icebreaker Raises $5M to Launch Blockchain Rival to LinkedIn
Icebreaker, an open-source professional network founded by former Coinbase and Google employees Dan Stone and Jack Dillé, has raised $5 million in seed funding, valuing the company at $21 million.
The latest investment will allow the six-person team to expand and develop a blockchain-based alternative to LinkedIn. Coinfund led the fund, with contributions from Accomplice, Anagram, and Legion Capital, among others, according to a declaration July 31st.
Icebreaker aims to be the “world’s first open professional network,” in contrast to LinkedIn’s centralized control over digital identities. The platform uses blockchain technology to unify users’ professional profiles and networks into a single channel, enabling instant credential verification and secure approvals.
CoinFund CEO Alex Felix highlighted the potential of cryptocurrencies in developing fundamental social graphs for various applications, expressing support for Icebreaker’s mission to provide true ownership of professional identities online. The founders aim to create an “open reputation and identity graph,” promoting shared context and trust.
Addressing the issue of AI-generated noise and false personas in digital networking, Dillé jokingly called himself “CEO of Google” on his LinkedIn profile to demonstrate the ease of misinformation on traditional web2 platforms, which can mislead job seekers and recruiters.
Icebreaker has already tested early versions of its platform in collaboration with web3 companies such as Coinbase, Opensea and Polygon Labs.
It is interesting to note that Monetary base CEO Brian Armstrong had pitched his idea of developing a decentralized LinkedIn at the beginning of September.
Last month, Bondex, which has positioned itself as a competitor in the web3 space against LinkedIn, went public with a fundraising round of more than $10 million.
Bondex is designed to be a more interactive and engaging professional networking platform that resembles LinkedIn’s role as a hub for job seekers, recruiters, and businesses. The platform leverages its native BDXN token to facilitate various features.