[PRESS RELEASE – Palo Alto, California, March 1st, 2024]

Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

Karma3 Labs has raised $4.5M in seed funding led by Galaxy and IDEO CoLab Ventures to build OpenRank, a decentralized reputation protocol. Using OpenRank, developers and web3 protocols can power consumer apps, communities and marketplaces with an open ranking and recommendation layer that provides users with security and peace of mind when making decisions onchain, without having to trust centralized gatekeepers. Some of the early use cases of OpenRank include leveraging a community rating system for App Marketplaces like Metamask Snaps; Ranking and Recommendation APIs for Lens and Farcaster; On-Chain discovery feeds for consumer apps and wallets; and reputation-based voting and governance.

Introducing trust and…

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