Social network 0xPPL closes strategic funding round

Social network 0xPPL, which caters to crypto natives, closed its strategic funding round led by AllianceDAO, Anagram, and Peak XV Partners.

The round also saw participation from angel investors, including Balaji Srinivasan; Anatoly Yakovenko and Raj Gokal, Co-founders at Solana; Sandeep Nailwal, Co-founder at Polygon; Ryan Selkis, Founder at Messari; and Sreeram Kannan, Founder at EigenLayer.

“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, 0xPPL.

The capital raised is set to help the company enhance its product, grow its team and advance its mission of being the go-to on-chain social networking platform, the company said in a statement.

The company said that it will also use the raised capital to enhance its platform, which enables users to track portfolios across EVM, Solana, Bitcoin, TION, and Cosmos, while also checking invested amounts, profit and loss statements, 24-hour change and staking rewards.

“Users can stay updated on token holdings, protocol positioning, and NFT values and also benefit from cross-posting features that enable seamless content sharing across platforms like Twitter, Farcaster, Lens Protocol and more,” the company said.

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“This strategic investment reflects our belief and commitment towards the next generation social network by 0xPPL that offers a safe and seamless way for the crypto natives to navigate the decentralised world,” a spokesperson for AllianceDAO said.

The platform aims to enable its users to connect, interact, share information, and even collaborate with each other within the constantly changing digital environment, 0xPPL said.