Social network for crypto natives 0xPPL raises funding led by VC firms, angel investors

0xPPL, a social network designed for crypto natives, has raised an undisclosed amount in a funding round led by prominent venture capital firms AllianceDAO, Anagram, and Peak XV Partners.

The round also saw the participation of several influential angel investors, including Balaji Srinivasan (Former CTO of Coinbase), Anatoly Yakovenko (Co-founder of Solana), Raj Gokal (Co-founder of Solana), Sandeep Nailwal (Co-founder of Polygon), Ryan Selkis (Founder of Messari), and Sreeram Kannan (Founder of EigenLayer).

Purpose of fundraising

The startup plans to use the raised capital to enhance the product, grow the team, and advance its mission of being the go-to on-chain social networking platform.

"We are so thankful for the belief and confidence placed in our vision. Through this funding, we will be able to get a wealth of knowledge from industry leaders and work with them as we build 0xPPL into a go-to crypto app," said Prasanna Sankar, Founder of 0xPPL.

What does 0xPPL do?

Founded in August 2022, 0xPPL is a next-generation social network designed specifically for crypto natives. By offering the safety of chain social networking, the startup aims to make on-chain navigation seamless and engaging.

It provides users with a comprehensive set of tools to manage their crypto portfolios across multiple blockchain ecosystems, including EVM, Solana, Bitcoin, TION, and Cosmos. 

Users can track their investments, monitor profit and loss statements, and view changes over 24 hours, along with staking rewards.

The platform also keeps users updated on token holdings, protocol developments, and NFT valuations.

Additionally, 0xPPL offers a cross-posting feature that allows seamless content sharing across various platforms like Twitter, Farcaster, and Lens Protocol, thereby enhancing user interaction and connectivity in the crypto space.

AllianceDAO Spokesperson said, "0xPPL has the potential to reshape how users engage with blockchain-based platforms. Their vision for seamless on-chain interactions aligns perfectly with where the future of Web3 is heading, particularly as decentralized networks become more integral to how we connect, share, and collaborate online. We are excited to support 0xPPL’s mission and be a part of their transformative journey."