Web-based video communication has become an indispensible tool in recent years, both for the increasing number of remote workers and families that otherwise wouldn't get to spend much time together. But the infrastructure underpinning this technology is expensive to build and operate, and as a result it's centralized in the hands of a few corporate giants with attendant reliability and privacy concerns.
Huddle01 wants to change this, providing a truly decentralized video and audio communication platform. By utilizing blockchain technology Huddle 01 hopes to build a network that is faster, cheaper and more secure than existing options, while offering incentives for developers to build innovative projects and apps which will support and improve the platform. So far it has met with success, with a million minutes worth of meetings held and more than 100 projects built on top of the network.
Having recently closed a seed funding round led by Hivemind Capital Partners, Huddle01 intends use this investment to expand its ecosystem and publicly launch its node network. In the future it aims to grow into the social, gaming and metaverse markets, with a goal of becoming the default means of communication in these areas. While Huddle01 may struggle for market share against incumbents in this sector such as Zoom and Microsoft, its focus on industries already operating heavily in the Web 3 space may give it a solid niche to grow into.
Steph
Company Specialist at Welcome to the Jungle
