Zack Seward reports in coindesk.com that "Alexis Ohanian’s Seven Seven Six and Solana Ventures are committing $50 million to grow decentralized social media projects on Solana.
Ohanian said that “With a high performance blockchain like Solana, there is an unprecedented opportunity to fuse social and crypto in a way that feels like a web2 social product but with the added incentive of empowering users with real ownership.”
Various others have voiced support for the initiative of launching decentralized social media projects on Solana that include FTX CEO Sam Bankman-Fried and Solana Labs COO Raj Gokal who said “Web3 turns users and creators into owners and stakeholders, a change that can’t come soon enough to social media.”
Source credit and full story - https://www.coindesk.com/business/2021/11/09/reddit-co-founder-solana-ventures-launch-50m-fund-for-web3-social-media/
Why reinvent the wheel, when this is already happening on Hive Blockchain?
Interestingly enough the author mentioned that "Decentralized social media platforms exist on a number of other blockchains, including Twetch on BSV and DLive on Tron-owned BitTorrent."
But failed to mention Hive. Makes you wonder whether, as many Hivers believe, there is an ongoing shadow banning effort of Hive in the mainstream and crypto media.
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