A Bold Leap for Decentralized Social Media
In a landscape where social media giants rule with an iron grip, Phaver is kicking down the proverbial door with its recent $7 million seed funding announcement. Backed by a veritable who’s who of investors, including Polygon Ventures and SwissBorg, Phaver is setting out to make the Web3 social scene as inviting as your neighbor’s barbecue.
The App That Isn’t Just for Crypto Nerds
Launched in May 2022, Phaver’s mobile app isn’t just another techy gizmo. It offers the ease of signing up with familiar Web2 logins, proving that you can teach an old dog new tricks. With over 250,000 downloads and a thriving user base cranking out 50,000 posts daily, Phaver makes the blockchain feel less like a foreign land and more like a cozy coffee shop where everyone knows your name.
Why Web3 is the New Black
Unlike your typical Web2 platforms that hoard your data like it’s the last cookie at a party, Phaver allows users to create non-custodial profiles, meaning your social graph is yours to keep. It’s like finding out that your high school diary of secrets wasn’t burnt to ashes but saved in a magical vault. This permanence is a significant boon for users tired of getting their profiles deleted for breaking some arbitrary rule. Who knew decentralization could be so liberating?
Incentives to Keep You Coming Back
Phaver isn’t just tossing salad, they’re serving up a full buffet with their gamified rewards and reputation systems. Imagine earning points for being your social self and turning those points into some shiny new tokens. Before you know it, your cat memes could be the currency of the future. Speaking of credibility, users have already connected over 75,000 wallets worth over $50 million—impressive numbers that definitely put the “more” in the motto “more data, more fun!”
The Team Behind the Tech
Led by CEO Joonatan Lintala and CFO Tomi Fyrqvist, the Phaver team is as passionate about user ownership as a toddler is about a cupcake. They see a world where every individual can bring their unique building blocks to the social graph, creating a more meritocratic system in the face of traditional top-down hierarchies. As Sandeep Nailwal from Polygon succinctly put it, they’re “excited to partner with Phaver to further our mission of onboarding more users to a decentralized, community-owned internet.”
