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Metablox Receives Strategic Investment from Samsung Next to Boost Decentralized WiFi Deployment
Tuesday, April 30, 2024Company Profile | Follow Company
Richmond, BC, April 30, 2024--(T-Net)--Vancouver-based Metablox announced today that Samsung Next, the venture capital arm of Samsung Electronics, has strategically invested in Roam, the company's leading project in the DePIN field.
Samsung Next is an investment group that "champions the boldest and most ambitious founders who are creating a better future". The group focuses broadly on the technology areas of AI, blockchain, fintech, healthtech, infrastructure, and mediatech, but aso invest opportunistically in founders.
This investment marks a step towards advancing connectivity solutions and driving innovation in the DePIN sector for both Roam and Samsung Next, aiming to provide more convenient and secure WiFi roaming experiences for global users.
MetaBlox closed a private seed round in March 2022 which several major blockchain firms took part in. The round concluded successfully with a combined backing that exceeded $2 million in total.
Synergis Capital and Collab+Currency led the seed round as major backers, while several other cryptos focused firms such as Future Life, CrowdCreate, Slope, NFT Technologies and SNZ Holdings also participated.
Roam says it aims to build a decentralized global WiFi network, which provides a seamless WiFi roaming connectivity for users. The OpenRoaming program had been struggling due to a lack of infrastructure deployment and tokenomics incentives.
By partnering with the Wireless Broadband Alliance, Roam, as the only Web3 Identity Provider (IDP), enables users to automatically and securely connect to more than 3.5 million OpenRoaming™ access points worldwide.
Roam harnesses the power of blockchain to deliver a secure WiFi connection to all users by integrating decentralized identities (DIDs) and verifiable credentials (VCs). This eliminates the need for SSIDs, passwords, insecure login credentials, providing an unparalleled connectivity experience compared to other platforms.
Roam's tokenomics also provide a more rewarding way for users to connect with WiFi by encouraging them to contribute in building the network through Web3 incentives.
With Samsung Next's involvement, Metablox says Roam is set to further enhance its operational capabilities and broaden its market presence. This partnership will foster deeper integration of blockchain technology in physical infrastructure projects worldwide, setting new standards for connectivity and decentralization.
Metablox says that with the backing of Samsung Next, Roam can now leverage additional resources and channels to serve a broader user base and enhance its influence.
Roam says it is working to unify millions of WiFi access points into one global network and provide the infrastructure needed for each user to become a contributor or owner of the network.
Currently, Roam has over 150,000 network nodes added by the community and more than 70,000 app users across 140+ countries. The company said in a release that it hopes the investment with Samsung Next will be an ally for Roam, supporting its transformation of the way people connect to a more decentralized, accessible, and free WiFi roaming network.
About Roam
Roam transforms internet access with a decentralized network and OpenRoaming™, connecting you seamlessly to over 3.5 million OpenRoaming™ WiFi access points. It simplifies connectivity, enhances security, and rewards every connection via its proprietary DID solution. Roam permits the capture and utilization of rich user data (who, what, where) while promising the anonymity of decentralized IDs to permit data incentivization without compromising user identity.
http://weroam.xyz/join_us.html
About MetaBlox
MetaBlox represents a pioneering protocol that empowers users to seamlessly traverse public WiFi networks using their decentralized identifiers (DIDs) and corresponding verifiable credentials (VCs). By doing so, it establishes a unified global WiFi OpenRoaming network, seamlessly interlinking distinct WiFi networks.
This approach eliminates the tiresome cycle of repeated log-ins, reconnecting, password sharing, and redundant registrations that users currently contend with during local or international travels. The VC/DID-based Web3.0 WiFi credential is MetaBlox's secret sauce. It allows token incentivization to kick off the flywheel whose logic governs the deployment and expansion of the worldwide decentralized wireless access network.
The integration of MetaBlox heralds the streamlined adoption of cutting-edge Passpoint and OpenRoaming™ technologies. Originally conceived by the global WiFi industry for enterprise use, these technologies are poised to assume a pivotal role in the 5G rollout and the alleviation of cellular traffic.
MetaBlox strategically enhances adoption across three key dimensions: optimizing the service provisioning process, reducing deployment obstacles, and broadening the user base. Crucially, the MetaBlox network harmonizes with stringent privacy protocols and regulatory standards, cultivating an environment conducive to the proliferation of Web3.0 native applications and users.
About Samsung Next
Samsung Next is an investment group that champions the boldest and most ambitious founders who are creating a better future. We focus broadly on the technology areas of AI, blockchain, fintech, healthtech, infrastructure, and mediatech, but invest opportunistically in founders pursuing the imagined and impossible.
Our entire team of top-tier investors, operators, marketers, and sales and business developers are committed to supporting every portfolio company. We do this via:
Learn more about MetaBlox
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