Reddit Co-Founder, Solana Ventures Launch $50M Fund for Web 3 Social Media

Posted on by American Coins & Gold

Reddit Co-Founder, Solana Ventures Launch M Fund for Web 3 Social Media
Major investors see an opportunity to make Solana the social chain.Announced Tuesday at the Solana conference in Lisbon, Alexis Ohanian’s Seven Seven Six and Solana Ventures are committing $50 million to grow decentralized social media projects on Solana.A key ingredient: Ohanian’s early work in building Reddit from the ground up.“With a high performance blockchain like Solana, there is an unprecedented opportunity to fuse social and crypto in a way that feels like a web2 social product but with the added incentive of empowering users with real ownership,” Ohanian said in a statement.The announcement comes a day after FTX CEO and…