Sonr selected as a Top 3 Startup at Proof of Talk


May 30, 2023

Sonr selected as a Top 3 Startup at Proof of Talk

We have been recently informed that we were chosen among the top 3 VC-backed startups at the elite Proof of Talk event in Paris. As this event is a prestigious platform that brings together the cream of the blockchain industry, Sonr's achievement is nothing short of phenomenal.

The Journey to Proof of Talk

Sonr has demonstrated tenacity, innovation, and expertise in decentralized identity solutions, which has led it to the grand stage of Proof of Talk. It is interesting to note that the startups competing at Proof of Talk have collectively raised over $370M in various funding rounds, signifying the dynamic and thriving nature of the blockchain tech space.

The participants in the competition were diverse, ranging from startups specializing in Non-Fungible Tokens (NFTs) to those providing Decentralized Finance (DeFi) solutions. The geographic distribution of the startups was equally diverse, with entries from San Francisco, Singapore, London, Berlin, Latin America, Africa, and Southeast Asia.

Sonr's Unique Value Proposition

Sonr stands out in the crowd with its unique proposition centering on peer-to-peer identity and asset management. It leverages Decentralized Identity (DID) documents, Webauthn, and the InterPlanetary File System (IPFS), providing users with a secure, user-friendly way to manage their digital identity and assets.

Sonr's Revenue Model and Projections

Sonr has devised a multi-pronged revenue model. It plans to operate 8 out of the 64 initial Validator nodes and will receive a 0.05% revenue from transactions. The company is optimistic about its growth and has prepared projections analyzing token model, unlocks, and future returns.

Sonr's Impact and Traction

Sonr has made significant strides in its journey so far. It launched a private DevNet in Q4 2022, inviting 120 first-time blockchain developers to build with its mobile SDK. The company has a waitlist of almost 2,200 developers and is eagerly awaiting the launch of its React SDK.

Sonr's Competitive Edge

Sonr's competitive edge lies in its focus on experience, compliance, and interoperability. The company believes that these three pillars set it apart from its competitors. It has a clear vision to become the go-to identity solution in the blockchain industry.

Sonr's Future Plans

Sonr's roadmap for the next 18 months is well-structured, with a clear focus on incremental onboarding of developers. The company plans to carve a niche within the Cosmos ecosystem and build out SDKs that coexist with traditional developer workflows.

Sonr's Approach to Regulations

Compliance with regulatory norms is a high priority for Sonr. It has structured its fundraise in a way that is favorable for SEC compliance. Moreover, Sonr's technical architecture and usage of ECIES encryption make the system fully GDPR compliant.

Sonr's journey is a testament to the power of innovation, determination, and strategic planning. It is a shining star in the blockchain universe, and its achievements at the Proof of Talk event in Paris only add more sparkle to its journey. This is just the beginning for Sonr, and the future holds many more milestones and successes for this promising startup.