Web3 investor, advisor and venture builder Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has unveiled a new Web3 social network ecosystem called Byzant, in conjunction with Coinsilium’s portfolio blockchain-development company Indorse.
Byzant is the product of an active collaboration between a syndicate of major digital advertising and blockchain industry partners, including Coinsilium and Indorse.
Together, they are working to deploy a decentralised social network “for creative professionals and a suite of Web3 applications and tools”, all of which will be developed by Indorse.
These applications and tools will provide solutions that address many of the functionality and user experience (UX) challenges currently hindering mass Web3 adoption.
Indorse is the principal technology partner for Byzant, with Coinsilium providing strategic advisory services.
Calling it a “very exciting project”, Coinsilium chief executive Eddy Travia stated that Byzant “brings a lot of transaction models that exist in Web2 such as advertising and subscriptions that actually don’t exist in Web3”.
Coinsilium will provide more information on different Byzant applications “as and when they launch” in the coming months.
Indorse’s chief technology officer Gaurang Torvekar discussed Byzant in a recent episode of Coinsilium-sponsored podcast ‘When Shift Happens’.