OpenSocial Protocol Raises $6M to Boost Community-Driven dApp Creation

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• OpenSocial Protocol secures $6M in strategic funding led by Framework Ventures and North Island Ventures, bringing the total raised to $26M.
• The platform aims to enable the launch of 1,000 community apps by 2025, offering no-code solutions for building social dApps.
• Notable investors include industry leaders from Polygon, EigenLayer, Pudgy Penguins, and Wormhole Foundation, among others.

OpenSocial Protocol, a platform for building social applications, announced that it has received $6 million in strategic funding. The investment was led by Framework Ventures and North Island Ventures, with contributions from Hivemind Capital Partners, Stratos, Moonrock Capital, Chorus One, HV Capital, X Ventures, Gate Labs, Panga Capital, and Aspen Digital. 

Various other prominent investors have joined the round, which includes Jordi Alexander (Selini Capital), Sreeram Kannan (EigenLayer), 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), and Muddy Water. 

“The strategic backing accelerates OpenSocial’s ability to deploy its infrastructure across all major chains and ecosystems, launch a user-friendly platform where creators, moderators, and users can easily build communities, and develop new dApps tailored for the existing Web3 culture and communities. We aim to help empower and launch 1,000 community apps by 2025.”

– Allen Ng, Co-Founder of OpenSocial Protocol

 Everest Ventures Group, a top Web3 group in Asia, created OpenSocial Protocol. This tool offers open-source, multichain social app infrastructure, letting users and communities build social decentralized applications (dApps) without needing coding skills. OpenSocial aims to make it easier for people to create their own community apps. 

OpenSocial Protocol has raised a total of $26 million, including a recent $5 million seed funding round and $15 million from its ecosystem funds. Previous investors include Portal Ventures, Animoca Brands, OKX Ventures, and notable Web3 entrepreneurs like Smokey the Bera (Berachain), Jason Yano (Blockworks), Roham Gharegozlou (Dapper Labs), Brian Fabian Crain (Chorus One), and Mike Dudas (6th Man Ventures), among others.

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