Hang overview: the startup that will help brands evolve into Web3
We live in the "new Internet" era of the Web3, which will fundamentally alter how users, platforms, and content producers interact. Companies and brands also use the Internet for marketing their goods, creating communities, and managing them. But they do it on Web2 sites, via Web2 tools, and under Web2 rules.
Startup Hang wants to build tools that will elevate the interaction between brands and clients to the Web3 level and let businesses manage communities with NFT, blockchain, and other cutting-edge technologies. Let's take a closer look at Hang.
About Hang
Hang plans create a platform that will enable businesses to:
- Quickly create smart contracts without code in any chain: Ethereum, Solana, Polygon.
- Run fully customizable and automatically scalable webpages for NFT mint through a simple website builder.
- Expand functionality and provide a more diverse user experience by integrating third-party services and sites.
- Connect their own IT stack to organize rewards and manage participants.
In other words, brand marketing teams will get Web3-lego to promote and develop loyalty programs based on NFT to fit their concept.
Hang's toolkit will improve brands' ability to leverage NFT functions such as:
Liquidity - with NFT-based membership, customers become stakeholders. That is, they can not only receive perks but also raise their "NFT-pass" level by interacting with the brand, purchasing items, or attending events.
Interoperability - Hang's platform will become a link between brands and consumers in both the digital (metaverse) and physical worlds, allowing customers to earn, and receive bonuses and rewards everywhere.
So, community members will receive a non-fungible token that can accumulate rewards for various real and virtual activities rather than a typical plastic card.
Investors and team
Hang raised a total of $16M in four investment rounds. The project attracted 22 investors, including such funds as Paradigm, Impatient Ventures, Tiger Global Management, Night Ventures, Red Sea Ventures, K5 Global, and many private investors like the founder of Tiffany & Co or Tony Hawk:
There is not so much information about the team, but we found the leading developers with their LinkedIn profiles:
- Matt Smolin - Co-Founder & CEO
- Sam Smolin - Co-founder
- Brian Bendett - Co-founder
- Chad Fox - Co-Founder + Director of Operations
- Nathan Huber - Implementation Manager, Investment Director
- Samuel Adamson - Customer Success and Support Manager
Leigh Goldstein, a former strategic business consultant for Remind, also presented as Hang's advisor.
Our conclusions
Hang is an infrastructure project that will enable large brands to create a fundamentally new system of customer relationships in the spirit of Web3. The platform has the potential to connect traditional markets, Web3, and blockchain. It also has vast commercial potential because the planned toolkit will simplify business and community building in the new Internet era.
However, it is currently just a startup with significant investor backing and a strong concept, with no tokenomics, roadmap, or product prototypes. The DeLa team is still closely watching Hang to learn more about it.