According to TechFlow, SocialFi infrastructure OpenSocial Protocol announced the completion of a US$5 million seed round of financing, led by Portal Ventures and SNZ Capital, with participation from Animoca Brands, Awesome People Ventures, Arche Fund, Decima Fund, Moonrock Capital, OKX Ventures, Orange DAO, Panony Group, Summer Ventures and others.
OpenSocial Protocol was founded by Everest Ventures Group (EVG), one of the largest web3 operating groups in Asia, focusing on consumer applications. They have 300 full-time developers from Alibaba, ByteDance, Tencent and NetEase, and their products have more than 2 million users. EVG is also an early supporter of Animoca Brands, Sandbox and Dapper Labs.
EVG has allocated $15 million in ecosystem funds for developers to develop on OpenSocial. EVG has also deployed 30 of its best internal developers to develop OpenSocial. In addition, outside of EVG, there are 50 developers building dApps on OpenSocial.
