Paragraph

Paragraph raises $1.7m

We're thrilled to announce our pre-seed fundraise.

Colin Armstrong

Colin Armstrong

As reported by The Block, Yahoo Finance and Benzinga today, we're thrilled to announce the latest milestone for Paragraph: we've raised a $1.7 million pre-seed round, led by Lemniscap, with participation from Binance Labs, FTX Ventures, Global Coin Research, Sfermion, Seed Club, and many others.

This funding is helping us expand our team, establish exciting new partnerships, and further our mission to help creators build media empires using novel web3 technologies.

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A Paradigm Shift for Content Creators

It's a golden age for content creators.

There are more individuals earning a living off of their own digitally native content than ever before. TikTokers, YouTubers, bloggers - millions of creators across the media spectrum are foregoing traditional jobs and charting their own professional trajectory, choosing to sustain themselves by their own means and creations.

Despite this explosive Creator Economy growth, existing platforms for content creation are plagued with inefficiencies including misaligned incentives, lack of ownership, and inflexible distribution. Recent developments in web3 are powering a paradigm shift: there are new means of digital ownership, allowing creators to reward supporters, supercharge growth, and introduce new mechanisms for incentivized content creation & engagement. Additionally, open and permissionless protocols are streamlining the distribution of content across all of web3 while ensuring creators are in direct control over their communication.

Roderik Van der Graaf, Managing Partner at Lemniscap, puts it well:

"There is no denying the current proliferation of Web3 and blockchain technology in traditional media, alongside the rapid evolution of the Creator Economy. The confluence of these trends has created a perfect storm opportunity to revolutionize the media landscape.”

Where we're headed

Ultimately, Paragraph is focusing on using web3 technologies to drastically improve the status quo in three core areas: content creation, distribution, and monetization.

Content creation

New methods of collaboration, storytelling, and bottoms-up IP creation will unlock novel ways of tapping into creativity and imagination. Creators should be able to involve their community for co-creation in meaningful ways.

Additionally, technologies like Arweave and IPFS are ensuring content gets persisted forever, in a censorship-resistant and composable permaweb.

Distribution, discovery & community building

In web2, it's challenging for creators to gain exposure and get discovered. Building an audience typically means a reliance on social media, but traditional social networks are closed ecosystems: you’re unable to interact with your followers outside the confines of their walled garden. 

This contrasts dramatically with web3: permissionless and composable social graphs now means your audience is portable and can be accessed across all of web3. You - not platforms - own the relationship with followers. Additionally, this type of open and permissionless ecosystem unlocks new ways of engaging with your audience. We launched our first Farcaster integration earlier this month to demonstrate this, and we're excited to continue exploring new means of distribution and discovery that simply aren't possible in web2.

Web3 is also providing better ways of building communities: by distributing ownership in your creations, you can align incentives and turn your fans into supporters by involving them in governance and allowing them to participate and contribute in more meaningful ways.

Monetization

Creators that produce valuable content should be rewarded. Existing monetization mechanisms in web2 - including ads - often misalign incentives across creators, platforms and readers. Web3 is providing new ways for fans to support creators, while cutting out intermediaries and empowering creators with more freedom.

Join us on our journey!

Today, we're a team of three, with decades of experience across both web2 and web3 at companies like Google and Coinbase. We're excited to pioneer new methods of helping creators build media empires, and continue being at the forefront of the intersection between media & web3.

Interested in using Paragraph? Create your own web3-powered newsletter today.

To stay up-to-date, subscribe to our newsletter above, reach out to hello@paragraph.xyz, or follow us below:

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Over 2.5k subscribers

Onika84
Onika84
Commented 2 years ago

good luck

error
error
Commented 2 years ago

Congratulations 🎉👏

cryptzen
Commented 2 years ago

congrats !

farisss.eth
farisss.eth
Commented 2 years ago

Congrats

ukeythefinal
Commented 2 years ago

nice.👍

mooncphrpalladin
Commented 2 years ago

nice work guys

Nguyen Manh Luyen
Commented 2 years ago

nice

0x572e...dB2C
Commented 2 years ago

great

0x572e...dB2C
Commented 2 years ago

great

0xB9d9...E5b6
Commented 2 years ago

congratulaiton

JQ
Commented 2 years ago

Congrats

physicsofcoins
Commented 2 years ago

you have solid investors!

Dorian
Dorian
Commented 2 years ago

This is really a lot of money.

bikyem
Commented 2 years ago

Good evening please can i still take part in the fund raising?

Miguel
Miguel
Commented 2 years ago

Congratulations to all! I really want this project to thrive. Also testing my first comment on the app :)

missionsaturn.eth
Commented 2 years ago

Congratulations 🎉

JQ
Commented 2 years ago

nice

rectart.eth
Commented 2 years ago

dfsdf

timehackers.eth
Commented 2 years ago

congrats

0x00eth
0x00eth
Commented 2 years ago

..

Savindu Hansaka
Commented 2 years ago

Congratulations❤️

0x2604...FB71
Commented 2 years ago

Congrats!!!

0x4C48...9903
0x4C48...9903
Commented 2 years ago

Congrats sir

sukrucildirr
sukrucildirr
Commented 2 years ago

Congrats.

Paragraph raises $1.7m