According to BlockBeats, on August 17, the Holonym Foundation, a decentralized network digital identity security development organization, announced the completion of a $5.5 million seed round of financing. This round was led by Finality Capital and Paper Ventures, with participation from Draper Dragon, Arrington Capital, Lightshift and other institutions.

It is reported that the Holonym Foundation is building key middleware and applications to enhance the digital identity capabilities of every citizen through cryptography by empowering Web3 users to own, manage and selectively share data and providing privacy and security guarantees.