{"id":52634,"date":"2021-11-09T21:32:54","date_gmt":"2021-11-09T19:32:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52634"},"modified":"2025-09-03T11:12:08","modified_gmt":"2025-09-03T08:12:08","slug":"reddit-cofounder-alexis-ohanian-and-solana-ventures-to-launch-100m-fund-for-web3-investments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/reddit-cofounder-alexis-ohanian-and-solana-ventures-to-launch-100m-fund-for-web3-investments\/","title":{"rendered":"Reddit cofounder Alexis Ohanian and Solana Ventures to launch $100m fund for Web3 investments"},"content":{"rendered":"<p>Seven Seven Six, the venture firm of Reddit cofounder Alexis Ohanian, together with Solana Ventures, will allocate $100 million to create a fund that will invest in the development of Web 3.0 and blockchain-based social networks. The announcement was made at Breakpoint conference.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Clip: Alexis Ohanian &#038; Solana Ventures Announce $100M Fund for Decentralized Social Media\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/aCIW3Zv0-DU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>Initially, a different fund size was announced \u2014 $50 million. However during a panel discussion, Solana Labs Chief Operating Officer Raj Gokal noted that, given the number of teams, this amount would be insufficient, and cited other figures.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith a high-performance blockchain like Solana, there is an unprecedented opportunity to combine the social sphere and the crypto industry in a way that resembles a social product, but with an added incentive in the form of greater user empowerment,\u201d said Ohanian.<\/p>\n<\/blockquote>\n<p>Earlier, FTX CEO Sam Bankman-Fried <a href=\"https:\/\/www.theblockcrypto.com\/post\/123558\/ftx-ceo-social-media-on-the-blockchain-could-be-absolutely-huge\">\u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b<\/a> that blockchain-based social networks could become absolutely huge. In his words, distributed-ledger technology will address the problems inherent in more traditional platforms.<\/p>\n<p>Back in September 2021, BitClout founder Nader al-Naji <a href=\"https:\/\/u1f987.com\/en\/news\/bitclout-creator-raises-200m-for-the-launch-of-the-decentralized-social-network-deso\">raised $200 million to launch the decentralized social network DeSo<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seven Seven Six, the venture firm of Reddit cofounder Alexis Ohanian, together with Solana Ventures, will allocate $100 million to create a fund that will invest in the development of Web 3.0 and blockchain-based social networks. The announcement was made at Breakpoint conference.<\/p>\n","protected":false},"author":1,"featured_media":52635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2198,1400,1159,1110],"class_list":["post-52634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alexis-oganian","tag-reddit","tag-solana-sol","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52634"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52634\/revisions"}],"predecessor-version":[{"id":52636,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52634\/revisions\/52636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52635"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}