In addition to the rebrand, Halo Wallet also secured a new round of funding from a group of global investors, which included KuCoin Ventures, IDG, and HashKey Capital.
The rebranding exercise aims to expand Halo Wallet's focus from being a Web3 wallet to a broader SocialFi ecosystem. The wallet seeks to integrate a variety of on-chain and off-chain social media protocols, such as Lens and Twitter, to create a Web3 decentralized identifier system and engage with popular influencers.
In the future, Halo Wallet plans to gradually transfer governance rights of its SocialFi ecosystem to the community through a decentralized autonomous organization, or DAO. According to the company, implementing a DAO governance model promises to motivate a larger number of innovators and users to explore novel financial models and trading opportunities, thereby fostering an active SocialFi ecosystem.
The head of Halo Wallet, Jeff Haul, noted that decentralized wallets are the primary entry point for users into the world of Web3. According to him, the revamped Halo Wallet offers an array of enhanced social features that assist users in creating a well-rounded social identity and locating quality information and prospects on social networks.
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