Towns Secures $25.5M from a16z, Launches New Platform

(October 15, 2024) – Towns, a revolutionary on-chain messaging platform, has officially launched, offering a secure and decentralized alternative to traditional social media. Backed by a $25.5 million Series A funding round led by prominent web3 investors including Andreessen Horowitz (a16z), Benchmark, and Framework, Towns empowers users to own and control their online communities.

Built on the River Protocol, Towns provides permissionless group chats with end-to-end encryption (E2EE), ensuring privacy and security for all users. Unlike centralized platforms, Towns gives users complete ownership of their data and communities, fostering a transparent and censorship-resistant environment.

Key Features and Benefits:

Decentralized Ownership: Each "Town" operates as a decentralized autonomous organization (DAO) on the Ethereum blockchain, giving users control over governance, membership, and even the ability to transfer value within the ecosystem.

End-to-End Encryption: All conversations are encrypted, ensuring that only the intended recipients can read the messages. This protects user privacy and safeguards sensitive information.

Token-Gated Communities: Creators can leverage token-gating to curate their communities. This allows them to restrict access based on ownership of specific tokens, fostering exclusive groups and enabling new monetization models. However, users without crypto wallets can still participate in non-token-gated communities using a phone number.

Programmable Groups: Towns enables the creation of programmable groups with customized pricing, access requirements, and reward systems, opening up innovative possibilities for community engagement and monetization.

Web3 Integration: Towns seamlessly integrates with the broader web3 ecosystem, allowing for composability with other decentralized applications and services. This allows for features like reputation systems and on-chain verification of shared experiences.

User-Friendly Interface: Despite its sophisticated underlying technology, Towns offers a familiar and intuitive user experience, similar to popular messaging apps like Discord and Slack. This makes it accessible to both crypto-native users and newcomers to the web3 space.

Addressing the Need for Decentralized Communication:

Towns addresses the growing concerns surrounding privacy violations and censorship on traditional social media platforms. By providing a decentralized alternative, Towns empowers users to take control of their online interactions and build communities based on shared values and interests.

Leadership and Vision:

Towns is co-founded by Ben Rubin, the creator of the popular video streaming apps Houseparty and Meerkat. Rubin's experience in building successful online communities informs Towns' vision of creating a more intimate and trustworthy internet experience.

"With Towns, our goal is to make the internet more intimate without making it smaller," says Rubin. "We want to foster a sense of trust and connection between users by offering a decentralized platform where privacy and open communication are at the core."

Investor Perspective:

Arianna Simpson, General Partner at Andreessen Horowitz, expressed confidence in Towns' potential for mass adoption: "Towns uses the best of web3 but doesn’t hinder its ability to be used by folks who are less native. That, I think, is what will really enable them to kind of reach a massive scale."

Availability:

The Towns app is available for download on the App Store.

About Towns:

Towns is a decentralized, encrypted messaging platform built on the River Protocol. It empowers users to create, own, and manage their online communities with complete control over their data and privacy. Backed by leading web3 investors, Towns is poised to revolutionize online communication.

About River Protocol:

River Protocol is the underlying blockchain technology that powers Towns. It provides the infrastructure for decentralized governance, secure messaging, and tokenized communities.

About Andreessen Horowitz (a16z):

Andreessen Horowitz is a prominent venture capital firm that invests in innovative technology companies. Their investment in Towns underscores their belief in the future of decentralized communication.