{"id":15315,"date":"2021-12-17T17:07:35","date_gmt":"2021-12-17T16:07:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=15315"},"modified":"2021-12-17T17:07:44","modified_gmt":"2021-12-17T16:07:44","slug":"polygon-partners-with-seven-seven-six-to-launch-a-200m-web-3-0-social-media-initiative","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/polygon-partners-with-seven-seven-six-to-launch-a-200m-web-3-0-social-media-initiative\/","title":{"rendered":"Polygon partners with Seven Seven Six to launch a $200M Web 3.0 social media initiative"},"content":{"rendered":"\n
Polygon and Alexis Ohanian's venture capital firm<\/a>, Seven Seven Six, unveiled a $200 million initiative on Friday to back projects at the intersection of social media and Web3, also gaming applications developed on Polygon's network.<\/h5>\n\n\n\n
\"Polygon<\/figure><\/div>\n\n\n\n

Ohanian co-founded Reddit in 2005, resigned in 2010, then returned in 2014 as executive chairman to oversee a recovery before stepping down in 2020.<\/p>\n\n\n\n

He was a seed investor in a number of well-known internet and blockchain companies\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, including Coinbase, Instacart, Sky Mavis (the creator of Axie Infinity), and Patreon.<\/p>\n\n\n\n

Polygon's ecosystem has grown fast this year as an Ethereum scaling solution, with over 3,000 decentralized applications deployed on its network.<\/p>\n\n\n\n

Polygon stated earlier this month that it would devote up to 250 million MATIC tokens, worth $627.5 million at the time, to the development of zero-knowledge solutions for complex decentralized finance applications<\/a>.<\/p>\n\n\n\n

For all of this year, the most important drivers of its token price growth have been protocol debuts and cross-chain migrations.<\/p>\n\n\n\n

Sandeep Nailwal, a co-founder of Polygon, described social media business models as having a “dramatic impact on our world,” particularly in light of Web 3.0, a broad notion that alludes to the internet's next generation. “Users generate value, control the network, and reap the rewards,” he stated of Web 3.0.<\/p>\n\n\n\n

Ohanian's involvement with Polygon isn't his first effort towards Web 3.0 development. In November, the Reddit co-founder t<\/a>eamed up with Solana Ventures to raise $100 million for various Web 3.0 efforts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Polygon and Alexis Ohanian’s venture capital firm, Seven Seven Six, unveiled a $200 million initiative on Friday to back projects at the intersection of social media and Web3, also gaming applications developed on Polygon’s network. Ohanian co-founded Reddit in 2005, resigned in 2010, then returned in 2014 as executive chairman to oversee a recovery before […]<\/p>\n","protected":false},"author":12,"featured_media":15316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5682,6059,6058,5821],"class_list":["post-15315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-polygon-2","tag-seven-seven-six","tag-social-media-2","tag-web-3-0"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-140.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=15315"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/15315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/15316"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=15315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=15315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=15315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}