WELL3 Reaches $55M TVL in 24 Hours Before TGE, According to Chainwire

Dubai, UAE, July 1st, 2024 – WELL3, a decentralized wellness solutions provider, has attained $55 million in total value locked (TVL) during a 24-hour public sale, in preparation for its forthcoming Token Generation Event (TGE). The initiative is backed by various prominent entities in the cryptocurrency investment arena, including Cypher Capital, a multi-strategy crypto investment firm, along with recognized names such as Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance, and Lumoz.

WELL3 is transforming health and wellness through its Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID), and AI systems. Committed to enhancing well-being by providing secure, data-driven health journeys, WELL3 utilizes blockchain technology and AI analytics to deliver personalized experiences that emphasize data ownership and security.

“Thanks to Cypher Capital’s support, WELL3 is set to significantly enhance our ecosystem by integrating cutting-edge technology to expand decentralized wellness solutions and foster meaningful growth,” stated Fung Kam Keung, CEO and Co-founder of WELL3. The platform has recorded over 17 million transactions on its blockchain and boasts the largest NFT collection on the opBNB chain. Its multichain framework supports various platforms, promoting smooth user interactions across an integrated experience.

“WELL3 is at the forefront of blending DePIN, DID, and AI to revolutionize health and wellness,” commented Harsh Agarwal, Investment Lead at Cypher Capital. “Their strong technology and strategic partnerships position them as a formidable entrant in the healthcare sector.” The Token Generation Event for WELL3 is set to take place on July 3rd at 10 AM UTC on Bybit.

About WELL3
WELL3 is a leading Web3 wellness platform that reimagines health data management. By utilizing Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID), and advanced AI analytics, it motivates users to engage in health data collection and management through reward systems.

About Cypher Capital
Cypher Capital is a prominent early-stage venture firm concentrating on investments in Web3 infrastructure and applications that will drive the future digital economy. With a strong focus on environmental, social, and governance criteria in every investment decision, Cypher is committed to shaping the future of digital currency and public markets in the Web3 landscape.

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