Phaver, a Web3 social platform, secures $7 million in seed funding

Phaver Raises $7 Million in Seed Funding

Phaver, a web3 social media platform, has successfully raised $7 million in seed funding. The funding round included participation from various investors such as Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor, and Superhero Capital, among others. The platform offers a mobile app that enables users to enter the crypto space without the need for a crypto wallet initially.

Easy Onboarding and Web3 Wallets

Phaver allows individuals to sign up using their email or existing social media accounts. They can then create a web3 wallet later on, where they can showcase digital assets like non-fungible tokens (NFTs) or connect with other social blockchain networks like Lens.

Connecting the Web3 Ecosystem

The CEO of Phaver, Joonatan Lintala, emphasized that their mission is to connect the entire web3 ecosystem by enabling users to incorporate their own building blocks for their social graph. This includes building credibility through decentralized IDs, finding community among collectors of the same assets, and establishing relationships across the internet using on-chain social layers like Lens.

Lintala also highlighted the importance of giving users ownership and a say in significant decisions within the social network.

Launch on Lens Blockchain Mainnet

Phaver initially launched in 2022 on Lens, a blockchain mainnet that serves as the foundation for web3 social platforms.

Hot Take: Phaver Revolutionizing Web3 Social Media

With its recent seed funding round, Phaver is making waves in the world of web3 social media platforms. By allowing users to onboard into the crypto space without a crypto wallet and providing a seamless transition to web3 wallets, Phaver is lowering the barriers to entry for newcomers. The platform’s focus on connecting the web3 ecosystem and empowering users with ownership and decision-making rights sets it apart from traditional social networks. As the web3 space continues to evolve, Phaver’s innovative approach positions it as a key player in the future of social media.