According to BlockBeats, Web3 identity layer idOS has successfully raised $4.5 million in funding. The round was led by Fabric Ventures. idOS has formed an alliance with Arbitrum, Circle Ventures, RippleX, GnosisDAO, and NEAR Protocol. The alliance aims to develop the Web3 identity layer and promote the adoption of decentralized identities across the entire Web3 space.
idOS is a decentralized data storage and access management protocol. It enables the ecosystem to provide an identity layer for dApps, addressing compliance issues for user onboarding and significantly reducing friction. For users, idOS offers control over their data and the ability to decide who to share their data with.