Big Whale Labs Company Profile

Background

Big Whale Labs is a Vancouver-based Web3 social startup founded in 2021 by Jason Kim and Nikita Kolmogorov. The company's mission is to enhance human-to-human connections online by making social interactions safer, more enjoyable, secure, and free.

Key Strategic Focus

Big Whale Labs leverages Web3 technologies to reimagine digital identity, social graphs, and networks. Their primary focus is on developing decentralized identity verification platforms that allow users to build and interact as pseudonymous NFT identities with verified credentials and reputations attached. This approach aims to improve online interactions by providing privacy-preserving mechanisms for users to engage in social platforms.

Financials and Funding

The company has successfully raised a total of approximately $4.4 million through two funding rounds:

• Pre-Seed Round (October 2021): Raised $655,000 led by Slow Ventures, with participation from Samsung Next, Intonation Ventures, NFT Investments PLC, and notable angel investors including Anton Bukov and Sergej Kunz (co-founders of 1inch Network), and Alex Shin (co-founder of Hashed).

• Seed Round (June 2022): Secured $3.8 million co-led by M13 and Road, with contributions from Slow Ventures, C2, Goodwater, Panache, NFR, and angel investors such as Balaji Srinivasan (former CTO of Coinbase) and Roman Storm (founder of Tornado Cash).

The funds are intended to accelerate product development and support the launch of their initial offerings.

Pipeline Development

Big Whale Labs is developing several key products:

• SealCred: An open-source, privacy-preserving social protocol powered by zero-knowledge proofs. It enables users to create pseudonymous identities and transfer social capital between wallets using anonymous but verified, soulbound zkNFTs or zkBadges.

• Dosu: A pseudonymous social application powered by zkNFT badges created with SealCred. It is envisioned as a platform combining elements of TeamBlind, Reddit, and crypto communities, facilitating anonymous yet verified interactions.

Technological Platform and Innovation

Big Whale Labs distinguishes itself through its innovative use of zero-knowledge proofs and blockchain technology:

• Proprietary Technologies: Development of SealCred, a protocol utilizing zero-knowledge proofs to enable privacy-preserving social interactions and credential verification.

• Scientific Methodologies: Implementation of zero-knowledge proofs to allow users to prove ownership or credentials without revealing underlying data, enhancing privacy and security in online interactions.

Leadership Team

• Jason Kim, Co-Founder and CEO: Jason began his tech journey by managing a gaming community forum at age 13, where he sold custom forum banners and display pictures. Prior to founding Big Whale Labs, he co-founded and served as Head of Product for a Y Combinator and venture-backed developer tool startup.

• Nikita Kolmogorov, Co-Founder and CTO: Nikita is recognized as Telegram's most successful third-party app developer, having scaled his applications to over 60 million users globally. Notably, he developed the Shieldy Telegram Bot, which he scaled to 20 million users before its acquisition by 1inch Network.

Competitor Profile

Market Insights and Dynamics

The decentralized identity and privacy-focused social networking market is rapidly evolving, driven by increasing concerns over data privacy and the desire for user-controlled digital identities. The integration of blockchain and zero-knowledge proofs is emerging as a significant trend to address these concerns.

Competitor Analysis

• Digital Asset: A New York-based company specializing in financial software, focusing on decentralized identity verification platforms.

Strategic Collaborations and Partnerships

Big Whale Labs has attracted investments from prominent entities in the crypto and venture capital sectors, including:

• 1inch Network: Co-founders Anton Bukov and Sergej Kunz have invested in the company, bringing valuable expertise in decentralized finance and blockchain technologies.

• Hashed: Alex Shin, co-founder of Korea's largest crypto venture capital firm, has also invested, providing strategic insights into the Asian crypto market.

Operational Insights

Big Whale Labs differentiates itself through its focus on privacy-preserving technologies and the development of pseudonymous yet verified digital identities. By leveraging zero-knowledge proofs, the company addresses critical privacy concerns associated with open blockchains, offering users enhanced security and control over their digital interactions.

Strategic Opportunities and Future Directions

The company plans to expand the use cases of its technologies beyond NFT ownership to include:

• Twitter Verification/Follower Count: Allowing users to verify their social media presence without exposing personal information.

• Work Email and School Affiliation: Enabling anonymous yet verified credentials for professional and educational backgrounds.

• Anonymous Peer Reviews of DAO Members: Facilitating confidential evaluations within decentralized autonomous organizations.

• Anonymous Reviews of DAOs: Providing platforms for candid feedback on DAO operations and governance.

Contact Information

For more information, visit Big Whale Labs' official website.