{"id":54921,"date":"2021-12-17T19:12:01","date_gmt":"2021-12-17T17:12:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54921"},"modified":"2025-09-03T22:49:10","modified_gmt":"2025-09-03T19:49:10","slug":"polygon-and-reddit-co-founder-launch-a-200m-fund","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/polygon-and-reddit-co-founder-launch-a-200m-fund\/","title":{"rendered":"Polygon and Reddit co-founder launch a $200m fund"},"content":{"rendered":"<p>Alexis Ohanian&#8217;s Reddit cofounder&#8217;s venture capital firm \u2014 Seven Seven Six \u2014 together with the Polygon (MATIC) project created a $200 million fund to invest in projects at the intersection of social networks and Web 3.0.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Here we go \ud83d\ude4c <a href=\"https:\/\/twitter.com\/sevensevensix?ref_src=twsrc%5Etfw\">@sevensevensix<\/a> is teaming up with <a href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a> to find the next projects creating the future of social media and Web3. <\/p>\n<p>Excited to see what infrastructure people are building in Web3. We\u2019re just at the starting line. <a href=\"https:\/\/t.co\/Uo26jUQSUO\">https:\/\/t.co\/Uo26jUQSUO<\/a><\/p>\n<p>\u2014 Alexis Ohanian 7\ufe0f\u20e37\ufe0f\u20e36\ufe0f\u20e3 (@alexisohanian) <a href=\"https:\/\/twitter.com\/alexisohanian\/status\/1471860637852598274?ref_src=twsrc%5Etfw\">December 17, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The fund will be denominated in dollars and will support Polygon-based startups, said the project&#8217;s cofounder Sandeep Nailwal in a comment to <a href=\"https:\/\/www.theblockcrypto.com\/linked\/127915\/polygon-reddit-co-founder-vc-200-million-web3-fund?utm_source=twitter&#038;utm_medium=social\">The Block<\/a>.<\/p>\n<p>He said the partners aim to contribute to a &#8216;fair Internet, where users control data and privacy&#8217;.<\/p>\n<p>In November, Seven Seven Six, together with Solana Ventures <a href=\"https:\/\/u1f987.com\/en\/news\/reddit-cofounder-alexis-ohanian-and-solana-ventures-to-launch-100m-fund-for-web3-investments\">founded a $100 million fund<\/a> to invest in the development of Web 3.0 and blockchain-based social networks.<\/p>\n<p><meta charset=\"utf-8\">Earlier, FTX chief Sam Bankman-Fried <a href=\"https:\/\/www.theblockcrypto.com\/post\/123558\/ftx-ceo-social-media-on-the-blockchain-could-be-absolutely-huge\" target=\"_blank\" rel=\"noreferrer noopener\">emphasized<\/a> that blockchain-based social networks could become &#8216;absolutely huge&#8217;. In his words, distributed ledger technology will address the issues inherent in more traditional platforms.<\/p>\n<p>Analysts at Grayscale Investments forecast the annual revenue of the Web 3.0 metaverse sector to reach <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-forecasts-annual-revenue-for-the-web-3-0-metaverse-sector-to-reach-1-trillion\">$1 trillion<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alexis Ohanian&#8217;s Reddit cofounder&#8217;s venture capital firm, Seven Seven Six, together with the Polygon (MATIC) project, created a $200 million fund to invest in projects at the intersection of social networks and Web 3.0.<\/p>\n","protected":false},"author":1,"featured_media":54922,"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":[2198,1264,1110],"class_list":["post-54921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alexis-oganian","tag-polygon-matic","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54921","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=54921"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54921\/revisions"}],"predecessor-version":[{"id":54923,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54921\/revisions\/54923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54922"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}