OpenSocial Protocol, developed by Everest Ventures Group, has raised $6 million to expand its Web3 social infrastructure. This article explores the platform’s features, funding goals, and the potential impact on the Web3 ecosystem.
Points
- OpenSocial Protocol raised $6 million to build Web3 social infrastructure.
- The platform provides open-source, multichain tools for creating decentralized social applications.
- OpenSocial aims to lower entry barriers for building community apps in the Web3 ecosystem.
- The funding will be used to expand infrastructure across major blockchain networks.
- The platform’s first application, SoMon, has already attracted significant user engagement.
OpenSocial Protocol, developed by Everest Ventures Group, has successfully raised $6 million to expand its Web3 social infrastructure. The platform aims to provide open-source, multichain tools that allow users to create decentralized social applications without the need for coding experience.
Building Web3 Social Infrastructure
OpenSocial Protocol’s primary goal is to lower entry barriers for building community apps in the Web3 ecosystem. By offering a modular design and various social features, the platform enables users to create decentralized applications （dApps） that cater to their specific needs. These features include feeds, chatrooms, multimedia posts, comments, reactions, voting, and social graphs.
The protocol also offers tools for creating tribes （user and topic-based communities）, advertising engines, and plug-ins for additional functionalities like token issuance and DAO tools. This comprehensive suite of tools empowers developers, creators, and users to build and manage their own social applications on the blockchain.
Funding Goals and Expansion Plans
With the new funding, OpenSocial Protocol plans to expand its infrastructure across major blockchain networks. The platform aims to launch a user-friendly interface for creators, moderators, and users, making it easier to build and manage decentralized communities.
The first
application built on OpenSocial Protocol, called SoMon, launched on June 19th. SoMon is described as a Reddit-like forum designed to give communities true ownership of their content and data. Within two weeks of launch, SoMon reportedly attracted over 30,000 on-chain active users, with an average engagement time of nearly 20 minutes and over 300,000 on-chain transactions.
Early Success and Future Plans
OpenSocial Protocol’s early success with SoMon highlights the platform’s potential to drive significant user engagement and adoption in the Web3 space. The funding will enable the team to further enhance the protocol’s capabilities, making it easier for users to create and manage decentralized social applications.
The team behind OpenSocial Protocol includes experienced developers and industry experts who are committed to addressing key challenges in social media platforms. These challenges include user retention, spam bot prevention, and expanding user growth beyond the crypto-centric audience.
Investor Confidence
Investors have expressed strong confidence in OpenSocial Protocol’s potential to become a significant player in the growing SocialFi movement, particularly in Asia. Framework Ventures Co-Founder Vance Spencer highlighted the team’s prior experience in scaling apps and onboarding millions of users, while Travis Scher of North Island Ventures emphasized the platform’s potential to bring new users into the crypto ecosystem.
Conclusion
OpenSocial Protocol’s $6 million funding round marks a significant milestone in the development of Web3 social infrastructure. By providing open-source, multichain tools for creating decentralized social applications, the platform aims to lower entry barriers and drive widespread adoption. With early success from its first application, SoMon, and strong investor confidence, OpenSocial Protocol is well-positioned to become a key player in the SocialFi movement.
解説
- OpenSocial Protocol, developed by Everest Ventures Group, raised $6 million to expand its Web3 social infrastructure.
- The platform offers open-source, multichain tools that enable users to create decentralized social applications without coding experience.
- The funding will be used to expand infrastructure across major blockchain networks and launch a user-friendly interface for creators, moderators, and users.
- The first application, SoMon, has shown early success with significant user engagement and transaction volume.
- Investors are confident in OpenSocial Protocol’s potential to drive adoption in the SocialFi movement, particularly in Asia.