DSCVR raises $9M investment in a seed round led by Polychain Capital. DSCVR has onboarded over 100,000 users. Produced a million posts and comments, Aas well as generated millions of dollars in NFT rewards for users.
DSCVR, a Web3 social content network running on the Internet Computer blockchain, has quickly set the standard for illustrating what’s possible when operating a social platform entirely on-chain.
The Seed Round Raised
NFT integrations, community gating, voting, and a variety of cross-product collaborations have stoked remarkable growth in users and engagement since DSCVR’s launch last year — culminating in its recent announcement of a $9 million seed funding round led by Polychain Capital.
“We initially created DSCVR as our personal experiment to see if it would even be possible to build a modern social web application on a blockchain. With our exponential growth in users, this raise will help us accelerate our roadmap and make Web3 accessible to anyone who knows how to use social media.”— Rick Porter, CEO and Co-Founder at DSCVR
Other participants in the funding round include Upfront Ventures, Tomahawk VC, Fyrfly Venture Partners, Shima Capital, and Bertelsmann Digital Media Investments (BDMI.
“The team at DSCVR truly understood how to build and develop social media communities and how to scale a Web3 platform. It is rare to see both skills in the same company,” — Upfront’s Mark Suster
DSCVR has tirelessly built on its early successes by continually iterating on the platform and responding to the needs of its users. “That’s the massive paradigm shift that’s happened in Web3. Now we can progressively make changes and understand our users better.”— Rick Porter, CEO and Co-Founder at DSCVR
New features on the horizon will include gifting 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 DSCVR’s communities to become decentralized autonomous organizations (DAOs); as well as additional ways to interact with NFTs and fungible tokens in a social context.
Building On Difinity
Building on the Internet Computer has allowed DSCVR to build a full-stack (frontend + backend) application. Completely decentralized while running at the necessary speed. It is to close the performance gap for users who are used to Web2 product experiences.
DSCVR (pronounced discover) is currently in beta. Its mission is to create a decentralized social content aggregation platform. This is where users not only control the content, but also the platform itself.