During the ongoing Solana Breakpoint conference in Lisboa, Ohanian said he wants to participate in the development of a decentralized social media based on the Solana blockchain, which is the reason behind the multi-million dollar investment. The American Internet entrepreneur, arguably best known for his role of co-founding Reddit, outlined his plans at the Breakpoint conference earlier on November 9th. While speaking to Solana’s co-founder – Raj Gokal – Ohanian firstly said that he plans to invest million through his venture capital fund. However, Gokal added that the amount might not be enough. As such, he indicated that the entire investment will indeed be worth 0 million. “With a high-performance blockchain like Solana, there is an unprecedented opportunity to
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During the ongoing Solana Breakpoint conference in Lisboa, Ohanian said he wants to participate in the development of a decentralized social media based on the Solana blockchain, which is the reason behind the multi-million dollar investment.
- The American Internet entrepreneur, arguably best known for his role of co-founding Reddit, outlined his plans at the Breakpoint conference earlier on November 9th.
- While speaking to Solana’s co-founder – Raj Gokal – Ohanian firstly said that he plans to invest $50 million through his venture capital fund.
- However, Gokal added that the amount might not be enough. As such, he indicated that the entire investment will indeed be worth $100 million.
- “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. We are at a pivotal inflection point in these early days of Web3 and I couldn’t be more energized to partner with Solana to support companies who are building for this exciting new era of social.” – commented Ohanian.
- Gokal added in a follow-up PR that Web3 projects will be able to turn users and creators into owners and stakeholders, which is a “change that can’t come soon enough to social media.”
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“Social media in the metaverse will be a collection of millions of self-sufficient communities, and there’s nobody better to help great teams build that future than Alexis Ohanian.” – he concluded.
Featured Image Courtesy of CNET