OpenSocial Protocol Raises $5M in Funding for Expansion

OpenSocial Protocol's Seed Funding

Key Highlights:

• Seed Funding: OpenSocial Protocol, a composable infrastructure layer for social applications, raised $5 million in seed funding.
• Investors: Funding round led by Portal Ventures and SNZ Capital, with participation from Animoca Brands, Awesome People Ventures, and other notable investors.
• Expansion Plans: Funds will be used to expand operations and development efforts.

OpenSocial Protocol's Target Market

• Developers and Creators: OpenSocial Protocol empowers developers and creators to build social decentralized applications (dApps).
• Social dApp Builders: Individuals and teams interested in building social dApps with improved infrastructure, UI-layer composabilities, and financial incentives.
• Web3 Entrepreneurs: Entrepreneurs in the web3 space looking to leverage OpenSocial Protocol for their social application ideas.

What OpenSocial Protocol Needs to Buy

• Development Resources: Hiring developers and engineers to enhance and expand the OpenSocial Protocol infrastructure.
• Marketing and Community Building: Engaging marketing agencies and community managers to promote OpenSocial Protocol and attract developers and users.
• Partnerships and Integrations: Collaborating with other web3 projects and platforms to integrate OpenSocial Protocol and expand its reach.