Phaver Raises $7 Million to Democratize Web3 Onboarding for Social Platforms

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Phaver Raises $7 Million to Democratize Web3 Onboarding for Social Platforms

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Phaver, a startup focused on decentralized social protocols, has secured $7 million in seed funding to develop a user-friendly web3 onboarding experience for social media platforms. The company aims to address the barrier of entry for non-crypto-native users by providing a familiar interface similar to traditional social apps. By allowing individuals to create, own, and monetize their social media profiles, Phaver seeks to disrupt the social media landscape with blockchain technology. With notable investors such as Polygon Ventures and SwissBorg, Phaver has already integrated its technology with prominent decentralized social networking ecosystems. The startup, which currently boasts 250,000 users, plans to utilize the funding to expand its team, enhance its product, and establish further partnerships in the industry.