Web3 Social Network DSCVR Attracts $9 Million Investment

DSCVR, a U.S. startup that is building a blockchain technology-based web3 social network, has succeeded in raising 10 billion won in seed investment rounds. DSCVR speeds up the creation of new social networks as the web ecosystem changes.

DSCVR announced on the 25th (local time) that it raised $9 million (about 12 billion won) through a seed investment round led by Polychain Capital. Upfront Ventures, Tomahawk VC, Pirates Venture Partners, Shema Capital, and Bertelsmann Digital Media Investments participated in the investment round as investors.

DSCVR is building a social network based on blockchain technology. DSCVR’s Web3 social network provides NFT (irreplaceable tokens), integration with other coin and NFT ecosystems, gating technologies that can be used by other projects, governance tools, and distributed autonomous organization (DAO) functions.

DSCVR plans to invest the funds secured this time in further development of its platform.

A DSCVR official said, “We established DSCVR to experiment with whether modern social web applications can be built with blockchain. As users increase exponentially, we will accelerate the roadmap of the funds secured this time and allow everyone to access Web 3.”

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