Intract raises $3M to build the world’s leading learn and earn platform
Intract is a major player in the Web3 world, having grown to more than 2 million users and $1 billion in GMV. The profitable platform today announced a $3 million funding round to scale Web3 adoption to the next billion users.
Intract has raised funding led by Alpha Wave Global, BITKRAFT Ventures, Gumi Cryptos, and Polygon Ventures. Other investors include DeVC, Tokentus, MoonPay, Web3 Studios, and angel investors from organisations such as Coinbase and Alchemy. The funding, amounting to $3 million, will be used to double the team size and scale the platform to reach a billion users.
The platform provides useful resources in the form of ‘quests’ for users to learn and earn from Web3. A quest aims to educate users about new technologies like blockchain and reward them to become early adopters of Web3 companies. It can be a fun and interactive way for users to get introduced to new products and services. Users are incentivised to complete a wide range of tasks, such as content engagement on Twitter, educational tasks such as quizzes and courses, as well as product exploration such as trading and game play. For completing such tasks, the users get incentives in the form of earning crypto, NFTs, and loyalty points.
How can Web3 quests benefit growth?
Marketers and founders should also pay attention to Web3 quests due to the potential benefits they bring. Quests can be an effective way to attract new users to your project and build loyalty. Many projects are already using Intract as the best way to enhance user reach and engagement. Rewarding users for completing tasks can help create a more dedicated community of users who are more likely to become loyal customers and evangelists invested in your success.
What’s next for Intract?
Intract has built the world’s largest Web3 learn and earn platform, growing profitably, and has ambitious plans to scale up even further. Linea, a layer-2 blockchain, recently launched its quest on Intract, attracting millions of users. With more than two million active users already, Intract has facilitated over $1 billion of volume through its marquee partnerships with 1,000+ companies, such as Binance, Polygon, and MetaMask.
In 2024, Intract plans to launch an ecosystem of products such as its academy, a curated learning environment to onboard Web2 users into Web3, as well as its Internal Economy, a network for users that will eventually become decentralised.
“Intract’s vision is to build an ecosystem that helps users unlock value from new financial opportunities and digital economies created by Web3. The birth of the internet led to emerging giants such as Google. We have only just gotten started with our strong network effects and profitable business model, and Intract is well on its way to become the ecosystem giant of Web3,” says Sambhav Jain, Co-founder and CEO of Intract.
"Intract's innovative blend of community and rewards is transforming user distribution in Web3. Their impressive growth in user base is a testament to their success. We're excited to support Intract as they expand and bring Web3 to a wider audience," commented Tushar Behl of Alpha Wave.