Miami, FL – According to filings with the U.S. Securities and Exchange Commission, GM Labs is raising $5,999,956.00 in new funding. Sources indicate as part of senior management Co-Founder, Michael Mcguiness played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About GM Labs
At GM Labs our immediate goal is to make creating and managing a DAO or crypto-asset community as easy as spinning up a subreddit. Longer-term, we hope to build the first crypto-native, decentralized, and user-owned social network. Today, our technology stack runs on Amazon Web Services, and it is pretty much identical to the stacks of most traditional Web2 applications. Our reasoning for this is that building a social platform people actually want to use is difficult enough with traditional architecture. Trying to build one today on decentralized architecture would be 100x harder and prohibitively expensive. Thus, our plan is to progressively decentralize. This will involve open-sourcing our code base, opening up our APIs , and eventually moving to decentralized architecture (e.g. IPFS, Arweave, StarkWare, etc.).

To learn more about GM Labs, visit http://gm.xyz/

Contact:
Michael Mcguiness, Co-Founder
754-216-8983
https://www.linkedin.com/in/mmcguiness/

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