Karma3 Labs raises $4.5M to launch decentralized reputation protocol for web3
Karma3 Labs has raised $4.5 million in funding to develop its decentralized reputation protocol OpenRank, which aims to create a foundation for peer-to-peer interactions and community ownership of ratings online. The protocol allows developers to use its "Reputation Graphs" for ratings, ranking or recommendations for applications or communities, without the need for a centralized entity running it. OpenRank is working with Metamask Snaps and providing ranking and recommendation APIs for Lens and Farcaster, and plans to put "resistant mechanisms" in place to prevent bad actors or scammers who try to cheat the system.
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