The ‘Web 3.0 Shopify of social’ hits 30,000 on-chain users in two weeks as the first app goes live.
OpenSocial Protocol a composable infrastructure layer for building social applications announced today a $6 million strategic backing led by Framework Ventures and North Island Ventures, with participation from other investors including Hivemind Capital Partners, Stratos, Moonrock Capital, Chorus One, HV Capital, X Ventures, Gate Labs, Panga Capital and Aspen Digital, along with super angels like Jordi Alexander of Selini Capital, Sreeram Kannan of EigenLayer, Luca Netz of Pudgy Penguins, Sandeep Nailwal of Polygon Labs, Yaoqi of Altlayer, Robinson Burkey of Wormhole Foundation, Gabby Dizon of YGG, Mik Naayem of Dapper Labs, Cygaar of Abstract, Regan Bozman of Lattice Capital, Muddy Water and more.
Built by Everest Ventures Group a leading Web 3.0 operating group in Asia focused on consumer applications OpenSocial Protocol provides open-source, multi-chain social application infrastructure tools that enable users and communities to build social DApps (decentralized applications) without coding experience.
This is a vision that OpenSocial stands by as it helps to lower the barriers of entry for users who are looking to create their own community app.
Along with the $5 million seed funding round and $15 million in OpenSocial Protocol ecosystem funds raised previously, OpenSocial Protocol now has $26 million in funding to support the protocol’s development.
Earlier investors include Portal Ventures, Animoca Brands, OKX Ventures, and renowned Web 3.0 entrepreneurs include Smokey the Bera of Berachain, Jason Yano of Blockworks, Roham Gharegozlou of Dapper Labs, Brian Fabian Crain of Chorus One, Mike Dudas of Sixth Man Ventures and more.
Vance Spencer, co-founder of Framework Ventures, said,
“We think that the OpenSocial team is well positioned to become a major player in the growing SocialFi movement across Asia.
“Their team is immensely talented and has prior experience scaling apps and onboarding millions of users. We’re excited to partner with the team as they expand to support several promising new apps.”
Travis Scher, co-founder and managing director of North Island Ventures, said,
“We believe that OpenSocial is building a sustainable social platform that can bring millions of new users into crypto, and we’re thrilled to be supporting Allen and his highly capable team…
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