0xPPL, a social network designed for cryptocurrency natives, has raised an undisclosed amount in a funds round led by outstanding venture capital firms AllianceDAO, Anagram and Peak XV Partners.
The round also saw participation from several influential angel investors including Balaji Srinivasan (former CTO of Coinbase), Anatoly Yakovenko (co-founder of Solana), Raj Gokal (co-founder of Solana), Sandeep Nailwal (co-founder of Polygon), Ryan Selkis (founder of Messari), and Sreeram Kannan (founder of EigenLayer).
Purpose of fundraising
The startup plans to use the capital raised to improve the product, grow the team, and advance its mission of being the go-to online social media platform.
“We are very grateful for the trust placed in our vision. With this funding, we will be able to gain a wealth of knowledge from industry leaders and work with them as we build 0xPPL into a benchmark cryptocurrency application,” said Prasanna Sankar, Founder of 0xPPL.
What does 0xPPL do?
Founded in August 2022, 0xPPL is a next-generation social network designed specifically for crypto natives. By offering the security of on-chain social networks, the startup aims to make on-chain navigation seamless and engaging.
It provides users with a comprehensive set of tools to manage their cryptocurrency portfolios across multiple blockchain ecosystems including EVM, Solana, Bitcoin, TION, and Cosmos.
Users can track their investments, monitor profit and loss statements and view changes for 24 hours, along with staking rewards.
The platform also keeps users updated on token holdings, protocol developments, and NFT valuations.
Furthermore, 0xPPL offers a cross-posting feature that allows seamless sharing of content across multiple platforms such as Twitter, Farcaster, and Lens Protocol, thereby enhancing user interaction and connectivity in the crypto space.
An AllianceDAO spokesperson said: “0xPPL has the potential to change the way users interact with blockchain-based platforms. Its vision of seamless interactions on the blockchain aligns perfectly with the future of Web3, particularly as decentralized networks become more integral to how we connect, share, and collaborate online. We are excited to support 0xPPL’s mission and be a part of its transformative journey.”
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