Binance launched an invite-only Web3 social media app on the iOS store to poor reviews. Despite some initial excitement about its release, the exchange’s CEO, Changpeng Zhao (CZ), clarified its limited use case.
CZ said the app would mainly be used for internal communications and is unrelated to what Binance will announce at its Blockchain Week starting Wednesday. The app uses infrastructure developed by CyberConnect to allow the limited user base to network and collaborate.
Binance Web3 App Launches on iOS
The Binance messenger app will initially be available to iOS users and later to Android phones. On the iOS store, the app has one star from one rating so far.
Binance’s Blockchain Week, set to take place in Istanbul from Nov. 8 – Nov. 9, is focused on the future of Web3 technologies. Over 2,000 Web3 enthusiasts from around the world will be attending the exchange’s flagship event.
The conference location, Istanbul, has a large crypto following. By hosting the event there, Binance could boost trading volumes stung by recent lawsuits and regional exits.
App May Target Key Stakeholders
Binance’s new app may be used to woo large investors and partners with exclusive services. Last year, the exchange rolled out a platform to enable VIP users to interact with key account managers and other Binance employees.
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