Social infrastructure OpenSocial Protocol receives strategic support of $ 6 million under the direction of Framework Ventures and North Island Ventures to promote community apps
Social infrastructure OpenSocial Protocol receives strategic support of $ 6 million under the direction of Framework Ventures and North Island Ventures to promote community apps
Hong Kong, Hong Kong, July 25, 2024, Chainwire
The "Web3 Shopify of Social" reaches 30,000 Onchain users in 2 weeks when the first app goes live
OpenSocial protocol A composite infrastructure layer for creating social applications today gave a strategic financing of 6 million US dollar under the direction of framework ventures and north Island Ventures known, with participation of other investors, including HiveMind Capital Partners, Stratos, Moonrock Capital, Chorus One, HV Capital, X Ventures, Gate Labs, Panga Capital, Aspen Digital and Super Angels such as Jordi Alexander (Selini Capital), Sreeram Kannan (own layer), Luca Netz (Pudgy Penguins),), Sandeep Nailwal (Polygon Labs), Yaoqi (Altlayer), Robinson Burkey (Wormhole Foundation), Gabby Dizon (YGG), Mik Naayem (Dapper Labs), Cygaar (Abstract), Regan Bozman (Lattice Capital), Muddy Water and more.
Built by everest Ventures Group A leading web3 operating group in Asia, which focuses on consumer applications Open-source, multiChain infrastructure tools for social applications with which users and communities can create social decentralized applications (DAPPS) without programming knowledge. This is a vision that supports OpenSocial because it contributes to lowering the entry hurdles for users who want to create their own community app.
Together with the Seed Financing Round of $ 5 million and the $ 15 million in the OPENSocial Protocol Ecosystem funded, OpenSocial Protocol now has $ 26 million in funds to support the development of the protocol. Former investors include Portal Ventures, Animoca Brands and Okx Ventures, and the renowned web3 entrepreneurs include Smokey The Bera (Berachain), Jason Yano (Blockworks), Roham Gharegozlou (Doper Labs), Brian Fabian Crain (Chorus One), Mike Dudas) and more.
"We believe that the open team is well positioned to become an important player in the growing social fi movement in all of Asia," said Vance Spencer, co-founder of Framework Ventures. "Your team is incredibly talented and has already experience with scaling the apps and the integration of millions of users. Team to work together while expanding to support several promising new apps. ”
"We believe that OpenSocial builds up a sustainable social platform that can bring millions of new users to the crypto world, and we are happy to be able to support everyone and their highly qualified team in this project," said Travis Scher, co -founder and managing director of North Island Ventures .
"The strategic support accelerates the ability of OpenSocial to use its infrastructure in all important chains and ecosystems, to start a user -friendly platform, which developers, moderators and users can easily build up communities and develop new dapps that are tailored to the existing web3 culture and communacy. To support and bring community apps to the market, ”said all NG, co-founder of OpenSocial Protocol . OpenSocial Protocol aims to integrate thousands of apps by providing infrastructure and adaptable user interface level, ensuring real ownership of intellectual property and community relationships and offers better coordinated monetization and financial incentives for communities and users. It builds up the necessary open source infrastructure to enable the largest multichain community economy by solving three central challenges: user binding, spam bot prevention and user growth beyond the cryptocentric audience. Somon (short for social monster), a reddit-like forum, which should give the communities real ownership, was the first app on June 19 OpenSocial Protocol was started. In just two weeks she had over 30,000 active Onchain users, an average interaction period of almost 20 minutes and over 300,000 Onchain transactions (excluding spam bots) and thus solved one of the greatest challenges of all social media platforms. Another app that is launched on OpenSocial is zeek that enables users to use the value of their To use community building networks through onchain social bounty mechanisms and reputation structure. In June Zeek completed his own 3 million dollar fundraising campaign. The modular design of the OpenSocial Protocol with easy-to-implement social tools based on a multicia approach enables developers and communities to create apps quickly and inexpensively. The functions are either on-chain or off-chain and include feed, chat room, text/video/audio/posts, comments, reactions, votes, parts, on-chain social graphs (social data and structure), tribes (user and thematic communities), megaphones (advertising machine) as well as plug-ups, DAO tools,, Betting, coordination, head money, matching, mini -games). By embedding social functions in the core experience in various industries, Onchain Social helps to break up silos and enable more connectivity and integration in the entire ecosystem. "We believe that social has the potential to be an important catalyst for acceptance among mainstream consumers. Every creator and community builder should be the owner and entrepreneur", ng added. EVG also used 80 developers and builder to develop the infrastructure for onboarding thousands of community apps with just a few clicks. By active collaboration with Early Adopters for the integration of flourishing communities, the redefinition of data sovereignty and the implementation of sustainable economic incentives Ebnet OpenSocial the way for a future in which everyone can build up meaningful and at the same time sustainable social connections and real property.
OpenSocial Protocol (OpenSocial) is a multicia social infrastructure that enables developers to create the effortless creation of community apps. OpenSocial uses its robust social diagram and its modular design and enables transparent content advertising for certain user groups and thus ensures a fair distribution of value among all those involved. OpenSocial offers one of the best data, tool and finance levels and its vision is to enable the largest multicia community economy. OpenSocial Protocol was founded by Everest Ventures Group. The 2018 Everest Ventures Group (EVG) is a web3 operating group that drives the mass introduction of Web3 by developing products with real applications that are supposed to get the next million users on board. EVG has its headquarters in Hong Kong and employs over 300 people worldwide. The company has developed more than 15 products in the areas of social affairs (OpenSocial Protocol, Somon, Zeek), Gaming & Kultur (Mugen Interactive, Legend of Arcadia, Last Odyssey, LiveArt) and Fintech (Aspen Digital).
as an earlier investor and senior consultant, EVG contributed to over 10 Unicorns and over 150 groundbreaking projects, including Celestia, Berachain, Wormhole, Dapper Labs (Flow), Animoca Brands, Immutable, The Sandbox, Yuga Labs, Kraken, Lukka, Dunamu and Blocklords. disclosure: The information contained herein is correct on the release date and can change. This is not an investment advice and readers should not understand the discussion about a specific organization as a recommendation for purchase or sale or as a request to submit an offer to buy or sell securities or digital assets in connection with this organization. OpenSocial Protocol reaches 30,000 Onchain users in 2 weeks when the first app goes live
OpenSocial: SCALABLE MultiChain social apps without programming knowledge
via OpenSocial Protocol
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Source: Coinlist.me
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