SocialFi infrastructure OpenSocial Protocol announced the completion of a $5 million seed round of financing, led by Portal Ventures and SNZ Capital, with participation from Animoca Brands, Awesome People Ventures, Arche Fund, Decima Fund, Moonrock Capital, OKX Ventures, Orange DAO, Panony Group, Summer Ventures, and others.

OpenSocial Protocol is an open-source social infrastructure layer founded by Everest Ventures Group (EVG). EVG has set aside a $15 million ecosystem fund for developers to develop on OpenSocial. EVG has also deployed 30 internal developers to develop OpenSocial, and another 50 developers are building DApps on OpenSocial outside of EVG.