Web3-native Publishing Platform Paragraph Raises $1.7 Million Pre-Seed Funding

Lemniscap led a $1.7 million pre-seed fundraising round for the Web3 publishing platform Paragraph. Other investors in the round include FTX Ventures, Binance Labs, GCR, and Seed Club Ventures, according to a business announcement.

Colin Armstrong founded Paragraph in 2021 as a publishing platform that assists Web3 authors, DAOs, and NFT communities in monetizing their work through an all-in-one email service.

Paragraph aims to challenge legacy publishing giants by offering Web3 tools for content creation. Instead of paid subscriptions on a Web2 newsletter platform, such as Substack, Paragraph enables content creators and community builders to manage their audience through memberships using either NFTs or ERC-20 tokens.

According to the company, these memberships create new opportunities for engagement — gating content with NFTs or rewarding token holders to incentivize growth. Creators can either leverage their own NFTs or ERC20 tokens or choose to mint directly on the platform for a 3% fee.

According to the statement, Paragraph has already established many significant agreements like Coinvise, Clubs.link, Unstoppable Domains, and Farcaster.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News