Web3 startup company Matera has acquired a substantial $3.6 million in funding to tackle the monetization hurdles faced by creators within the economy, with a crucial objective to fuse decentralized finance (DeFi) with established social media platforms. This financial round encompasses notable backers such as Sidedoor Ventures, HighCass Crypto, Medusa Ventures, The Sandbox, and Saxon Partners.

The primary goal of Matera revolves around conjoining DeFi with prevailing social media platforms, creating a synergistic relationship that harnesses the broad reach of web2 technologies and the pioneering possibilities of web3 technologies to revolutionize creator networks into thriving economic models. Differing from other initiatives that fall under the umbrella term "Web3 SocialFi," Matera stands out for its strategy not to supplant existing platforms but to fortify them with DeFi functionalities, leveraging their current market standing and user communities.

Through Matera's innovative system, creators are empowered to establish their individual Matera Credit Scores based on their interactions across diverse platforms, thereby enabling them to exchange this rating for liquidity and incentives within the comprehensive Matera ecosystem. CEO Sam Huber highlights Matera's pivotal role as a conduit between web2 and web3 realms, effectively addressing the obstacle of high transition costs for creators by providing them with the best of both technological domains.

Matera envisions substantial expansion within the creator economy, with forecasts predicting that it will surpass a monumental $1 trillion mark by 2030, drawing in an impressive count of 100 million creators and their supporters onto blockchain networks. The company's strategic roadmap includes the construction of a robust blockchain infrastructure, encompassing a DeFi platform, protocol layer, and secondary network for optimal performance and scalability.

Presently, Matera lends support to creators utilizing the social media hub X (formerly recognized as Twitter), consequently streamlining fundraising and monetization endeavors. Nonetheless, Matera harbors intentions to broaden its reach by extending integrations to encompass other social media platforms in the immediate future.