OpenSocial Protocol provides open-source, modular social infrastructure and tooling (feed, chatrooms, posts, on-chain social graphs, tribes, megaphones and plug-ins such as token issuance, DAO tools, bounties and mini-games) to let creators and communities compose apps quickly and economically. The stack supports both on-chain and off-chain features and emphasizes true ownership of intellectual property, community relationships, and aligned monetization. The project is built by Everest Ventures Group and aims to deploy its infrastructure across major chains while offering a customizable UI layer for creators, moderators, and users. Early product traction includes SoMon, the first app on the protocol, which reached over 30,000 onchain active users in two weeks, ~20 minutes average engagement, and over 300,000 onchain transactions (excluding spam bots). EVG has deployed ~80 developers to develop the infrastructure and OpenSocial aims to help empower and launch 1,000 community apps by 2025. Financially, OpenSocial has raised a total of $26 million to date (a prior $5 million seed round plus $15 million in ecosystem funds, and the new $6 million strategic backing). OpenSocial Protocol is a composable infrastructure layer for building social applications that enables developers and creators to build multichain SocialFi dApps. It provides UI-layer composabilities, ownership of intellectual property and relationships, and monetisation and financial incentives for communities. The protocol has launched its first dApp, SoMon, a decentralized topic-based forum owned by users and communities with degen mechanics and sustainable rewards. Everest Ventures Group (EVG) founded OpenSocial and has set aside a $15M ecosystem fund to support developer adoption; there are 50 additional developers building dApps on OpenSocial outside of EVG. The company says it will use the new funding to expand operations and development efforts. OpenSocial aims to improve community dApps through composable infrastructure and UI-layer building blocks.

Total raised

$11M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2024