0xPPL, a social networking platform designed for the crypto community, has secured an undisclosed amount of equity funding from investors including AllianceDAO, Anagram, and Peak XV Partners. The funding round also saw participation from notable angel investors like venture capitalist Balaji Srinivasan, Anatoly Yakovenko and Raj Gokal of Solana Labs, and Sandeep Nailwal of Polygon. This investment aims to enhance 0xPPL’s product offerings, expand its team, and further its mission to become a leading on-chain social networking platform.
Founded in August 2022 by Prasanna Sankar, 0xPPL connects users with shared interests in cryptocurrencies, offering a platform where they can monitor crypto assets and non-fungible tokens (NFTs) across multiple blockchains, including Ethereum Virtual Machine (EVM), Solana, Bitcoin, TION, and Cosmos. The platform allows users to track their portfolios, including investments, profit and loss, 24-hour changes, staking rewards, token holdings, protocol positions, and NFT values. The investment aligns with the growing trend of blockchain-based platforms driving innovation across various industries, such as finance, gaming, and social media.
AllianceDAO highlighted the strategic nature of this investment, reflecting their belief in 0xPPL’s vision to create a seamless, on-chain social networking experience. They emphasized that 0xPPL’s approach aligns with the future of Web3, where decentralized networks play a crucial role in how individuals connect, share, and collaborate online. In the competitive landscape, 0xPPL faces rivals such as decentralized social networks Phaver, Easy, and Farcaster.