OpenSocial Protocol, A SocialFi Infrastructure Project, Secures $5 Million in Seed Funding
CryptoNewsTerminal Staff28 May, 2024
OpenSocial Protocol, A SocialFi Infrastructure Project, Secures $5 Million in Seed Funding
OpenSocial Protocol (OSP), an infrastructure project for building Web3 socialfi applications, has announced that it has secured $5 million in seed funding, according to an official statement released on October 28. The seed round was led by SNZ Capital and IOSG Ventures. The investors include major crypto VCs and angel investors, including HashKey, SNZ, Animoca Brands, IOSG Ventures, Hashed, Dragonfly Capital, SNZ, Silicon Valley executives, and Web3 founders. OpenSocial Protocol is a project founded by Everest Ventures Group (EVG), an early investor in Animoca Brands, The Sandbox (SAND), and Dapper Labs (developers of FLOW), and the largest Web3 company in Asia. EVG has dedicated a $15 million ecosystem fund to support developers in the OpenSocial Protocol ecosystem and has reportedly deployed 30 in-house builders and 50 dApp developers to OpenSocial Protocol. EVG is also said to have over 300 developers from tech giants like Alibaba, ByteDance, Tencent, and NetEase, with over 2 million users.
