Alexis Ohanian’s Seven Seven Six declared its $200 million joint initiative with Polygon with plans to explore better ways for humans to virtually connect by backing projects that are building with social media and Web3 in mind.
We’re excited to announce our $200 million joint initiative with @0xPolygon 🎉
With Polygon, we’ll explore better ways for humans to virtually connect by backing projects that are building with social media and Web3 in mind. pic.twitter.com/4okjKzn6SA
— 7️⃣7️⃣6️⃣ (@sevensevensix) December 17, 2021
“We are still in the early days of Web3 and the most obvious opportunities right now are in gaming and social,” said Ohanian, in a statement. “This initiative will do just that, with a focus on gaming properties and social media platforms built on Polygon’s scalable infrastructure. We’ve already seen some of the best product founders in our portfolio start building on Polygon and I’m excited for Seven Seven Six and Polygon to play a big role in shaping what the new internet looks like.”
The press release regarding this partnership was provided to VentureBeat, the leading media authority in artificial intelligence and machine learning.
According to the release,
“Polygon has mission is to offer a wide range of secure, fast, affordable, and energy-efficient Ethereum scaling and infrastructure solutions for developers, empowering them to build Web3 applications for the world.
Ohanian co-founded Reddit in 2005 at the dawn of social networking. He left in 2010 and returned as executive chairman in 2014 to lead a turnaround before resigning in 2020. He co-founded Initialized Capital in 2010 and was a seed investor in Coinbase, Instacart, Opendoor, GOAT, Patreon, Flexport, Ro, Papa, and more. He is also an outspoken advocate for the open internet and equity and an active supporter of minority and women-owned businesses.”