Lemniscap has led a US$1.7 million pre-seed fundraising round for Paragraph, a web3-based native publishing platform focused on creating tools for content creators. Other investors included Binance Labs, FTX Ventures, Seed Club Ventures, GCR, and Sfermion. This is an important milestone for the company, which is trying to create the most user-friendly and complete publishing platform for Web3.
Paragraph’s Future Plans
The money raised, primarily focused on scaling engineering and growth teams, will be used to accelerate Paragraph‘s product development, user acquisition, and onboarding pipelines. This development comes on the heels of previous announcements regarding Paragraph‘s key relationships with Coinvise, Clubs.link, Unstoppable Domains, and Farcaster. Thus, access to Paragraph‘s exclusive Web3-local publishing solution will reach new audiences of users around the world.
With the platform, creators will have a better and more streamlined publishing experience, as well as the option to own, share and monetize the materials they produce. To usher in a new era in digital content development, Paragraph will give ownership of communities back to content creators, curators, and community builders by curating NFT-based memberships.
Starting with a focus on Web3-specific authors, DAOs, and NFT communities, the platform wants to diversify traditional media in the future. Creators who switch to the platform can bring their own NFTs or ERC20 tokens to log in to content, or they can mint their tokens on the platform for a 3% fee.
About The Paragraph
A Web3–specific publishing platform called Paragraph is located at the intersection of Creator Economy and Web3 innovation. Platform; helps Web3 authors, DAOs and NFT communities monetize their materials and increase their earning potential through a seamless, user-friendly all-in-one publishing and newsletter platform. The paragraph is about returning ownership of communities to content creators, curators, and community builders by curating NFT-based memberships to facilitate a paradigm shift in the creation and empowerment of digital content.
About Lemniscap
Lemniscap specializes in investing in blockchain firms and other crypto assets. The company has invested in a number of projects in the crypto blockchain space since it was founded in 2017 with the fundamental belief that blockchain technology will fundamentally change the global economy. Talented people with expertise in financial markets, PE/VC, technology, and entrepreneurship make up The Lemniscap team.
Leave a comment