DSCVR Raises $9M in Seed Funding Round

DSCVR, a Los Angeles, CA-based provider of a Web3 social network built entirely on the blockchain, raised $9M in Seed funding.

The round was led by Polychain Capital with participation from Upfront Ventures, Tomahawk VC, Fyrfly Venture Partners, Shima Capital and Bertelsmann Digital Media Investments (BDMI).

The company intends to use the funds to accelerate their roadmap and make Web3 accessible to anyone who knows how to use social media.

Led by CEO Rick Porter, DSCVR is a Web3 social platform with crypto-native integrations that rewards users for content. The system, built entirely on the Internet Computer, a blockchain-based decentralized protocol, includes such features as gifting non-fungible tokens (NFTs) to posts and comments; integrations with other token and NFT ecosystems; a Discord bot that will enable gated content by NFT ownership; the ability for other projects to use DSCVR’s gating technology; governance tools like mod elections; enabling communities to become decentralized autonomous organizations (DAOs); and more ways to interact with NFTs and fungible tokens in a social context.