Reddit co-founder Alexis Ohanian will be investing in building out a form of decentralized social media using the Solana blockchain, according to an announcement today.
During a fireside chat with Solana co-founder Raj Gokal, Reddit co-founder Alexis Ohanian said, “One of the reason why i’m here is to announce — I have a venture fund called 776 — we’re earmarking $50 million to invest in the next wave of social, built on Solana.”
During the chat, Ohanian added that $50 million wasn’t enough so that the plan is to increase the fund to $100 million.
