- Re7 Capital has initiated a SocialFi fund, led by Luc de Leyritz.
- Fund aims to invest in 30 projects with early-stage support.
- 60% of the fund has been initially subscribed, indicating strong interest.
Re7 Capital has announced a $10 million SocialFi fund to support approximately 30 early-stage projects, focusing on platforms such as Lens Chain and Farcaster. Luc de Leyritz leads this initiative, which sees strong investor interest with 60% of the fund already subscribed.
The fund’s launch fills a growing demand for SocialFi platforms, reflecting a shift towards decentralized networks. The enthusiasm is palpable as investors respond swiftly to this opportunity, underscoring the sector’s potential.
Re7’s $10M Fund Aims to Fuel SocialFi Growth
Re7 Capital’s new fund spearheaded by Luc de Leyritz seeks to inject $10 million into approximately 30 early-stage SocialFi projects. This commitment signals strong intent to bolster decentralized social networking. Early-stage projects will receive between $100,000 to $300,000 to fuel their growth phases. The enthusiasm for SocialFi platforms is highlighted by 60% of the fund being subscribed, showing significant interest from institutional investors. Luc de Leyritz commented that infrastructure and talent are positioned for this move.
Luc de Leyritz, Partner, Re7 Capital, stated that “the time is ripe” for SocialFi as infrastructure, talent, and user behavior reach resonance.
Luc de Leyritz, Partner, Re7 Capital, stated that “the time is ripe” for SocialFi as infrastructure, talent, and user behavior reach resonance.
Ethereum’s Role and Expert Commentary on SocialFi
Did you know? Lens Protocol on Ethereum’s Layer 2 improvements signifies an intersection of DeFi innovations and social networks, aiding broader blockchain adoption.
Ethereum (ETH) is priced at $1,806.59 with a market cap of $218.11 billion, holding a 7.36% market dominance. Over the past 60 days, ETH’s price has decreased by 18.67%, indicating recent volatility, as reported by CoinMarketCap.
Insights from Coincu highlight SocialFi’s potential to transform user interaction, with technological growth likely enhancing privacy features and decentralized governance. This aligns with Ethereum’s developer community priorities.
Source: https://coincu.com/335155-re7-capital-10m-socialfi-fund/