Phi Secures $2 Million in Seed Round Financing with Top Investors

02/17/2023 15:53 • Metaverse Matters • 113 views

On February 17, Phi, a social platform based on ENS, announced the completion of $2 million seed round financing, with Chapter One and Delphi Digital leading the investment, Polygon Ventures participating in the investment, and Bankless co-founder Ryan Sean Adams and David Hoffman, ETH Global co-founder Kartik Talwar, Gitcoin co-founder Scott Moore participating in the investment.

Phi, a social platform based on ENS, completed a seed round financing of US $2 million

Analysis based on this information:

Phi, a social platform based on Ethereum Name Service (ENS), recently announced the conclusion of its seed round financing which raised $2 million. Chapter One and Delphi Digital, leading venture firms, spearhead this investment, with participation from Polygon Ventures, Bankless co-founder Ryan Sean Adams, David Hoffman, ETH Global co-founder Kartik Talwar, and Gitcoin co-founder Scott Moore.

Phi is a decentralized platform utilizing the benefits of the Ethereum blockchain through ENS. Its aim is to foster a more transparent and accessible community while ensuring user privacy. By leveraging ENS, Phi strengthens user’s identities and enables them to safely and securely exchange messages, data, and assets.

Chapter One, the lead investor in Phi’s seed funding round, is recognized for its massive investments in high-growth startups like Discord, Mux, and Superhuman. Delphi Digital, another leading investor, is a self-described “Digital Asset Research and Investment Firm” dedicated to understanding and leveraging the potential of blockchain technology. These firms’ investments underline their belief in Phi’s potential in the social media space.

Polygon Ventures, a subsidiary investment arm for Polygon, a leading advanced blockchain infrastructure provider, also joins in Phi’s seed funding round. Polygon Ventures aims to invest in and support startups shaping the blockchain and Web3 ecosystem, making their support critical to Phi.

Ryan Sean Adams, co-founder of Bankless, also participates in the seed funding round. Bankless serves as an essential education service for anyone desiring to build wealth in the crypto industry. Adams has been a prominent supporter of Ethereum since its early beginnings. With that, his inclusion in Phi’s investment is seen as a testament to the project’s potential in the DeFi space.

In conclusion, Phi’s recent seed funding round is a solid endorsement of the platform’s growth potential in the decentralized finance and social media space. With the likes of Chapter One, Delphi Digital, Polygon Ventures, Ryan Sean Adams, David Hoffman, Kartik Talwar, and Scott Moore as key investors in Phi, the platform is poised for growth and potential success.

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Phi Secures $2 Million in Seed Round Financing with Top Investors

Phi, a social platform based on ENS, completed a seed round financing of US $2 million

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