Helsinki-based startup Phaver has secured $7 million in seed funding from a group of investors including Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor, Superhero Capital, and SwissBorg. The startup offers a web3 social platform where users can create, own, monetize, and have full control over their social media profiles and content, with a focus on providing a user-friendly experience similar to traditional social media. The funds will primarily support product development, team expansion, partnerships with other web3 projects, marketing, community-building, research, security, and compliance efforts. The company’s mission is to offer a user-friendly web3 social experience that resembles traditional social media platforms while leveraging blockchain technology.
Founded in 2022, Phaver is a pioneering Web3 social platform that simplifies access to the decentralized internet. This Helsinki-based startup empowers users to create and manage their decentralized social profiles, interact with blockchain-based social networks, showcase NFT collections, establish exclusive communities, and earn rewards through incentivized curation and digital reputation. With over 250,000 downloads as of September 2023, Phaver’s mission is to foster a user-centric and merit-based online ecosystem, collaborating with its community and partners to contribute to a more user-owned and meritocratic internet.
Phaver’s CEO & co-founder Joonatan Lintala said, “Web3 is all about user ownership, and with ownership come a lot of rights, one of which is using your own data wherever you want. Phaver’s mission is to connect the entire Web3 by allowing users to bring in their own building blocks for their social graph, whether that means building credibility with a decentralized ID, finding community among holders of the same collectibles or building relationships across the entire internet with on-chain social layers like Lens.”
Phaver’s CFO & co-founder Tomi Fyrqvist commented, “We are thrilled to partner with this select group of value-adding investors and partners, building the ecosystem together with our incredible community. The internet hasn’t been in such an exciting phase since the start of the century – and web3 technologies allow for the opportunity to build more meritocratic systems in the next-gen user-owned decentralized web, where the ownership of digital assets and online social life is redefined.”
Sandeep Nailwal, co-founder of Polygon, also commented, “Given Polygon’s focus on driving web3 adoption with infrastructure for the best gaming and social applications, we’re excited to partner with Phaver to further our mission of onboarding more users to a decentralized, community-owned internet.”
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