PANews, November 5 news, according to the official announcement from Phi, Phi has successfully completed a strategic financing round led by Neoclassic Capital, aimed at building a decentralized on-chain identity credential system. Neoclassic Capital is led by Steve Lee and Mike Bucella, with support from a16z partners Marc Andreessen and Chris Dixon. This round of financing also includes participation from Decima Fund, Cyber, PAKA Fund, and Incubate Fund.
Phi was established in January 2022 and launched its first product Phi Land, which aims to visualize on-chain activities through ENS. So far, over 4.3 million NFTs have been minted, attracting 296,000 users and collaborations with over 65 protocols. The Phi Protocol is based on a community-driven on-chain identity credential system that allows users to create, verify, and showcase on-chain activities, expanding their on-chain social and economic value.