Web3 Social Media Platform Phaver Raises $7 Million in Seed Funding

Phaver, a web3 social media platform, has secured $7 million in seed funding in its latest funding round. Investors in the round included Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor, Superhero Capital, and others, as per the statement.

Phaver offers a mobile app that allows users to enter the crypto space without needing a crypto wallet. Users can start by using their email or existing social media accounts and then create a web3 wallet later on. This wallet enables them to showcase digital assets like NFTs or connect to other social blockchain networks such as Lens.

Phaver's CEO, Joonatan Lintala, stated, "Phaver's mission is to connect the entire web3 by allowing users to bring in their own building blocks for their social graph, whether that means building credibility with a decentralized ID, finding community among holders of the same collectibles, or building relationships across the entire internet with on-chain social layers like Lens."

Lintala emphasized that users, who now own essential parts of the social network, also deserve a fair share of the pie and should have a voice in important decisions.

Phaver was initially launched in 2022 on Lens, a blockchain mainnet underpinning web3 social platforms.