https://techcrunch.com/2022/07/25/the-race-to-build-a-social-media-platform-on-the-blockchain/

It’s easy to be skeptical of the big social media giants — they typically sell user data to advertisers and have been mired in controversy for their approach to content moderation. Web3 proponents think they can build a new system altogether that sidesteps the concentrated power of platforms — a decentralized social media (DeSo) ecosytem where users ideally have more ownership over the content they create.

DSCVR, a blockchain-based social network built on Dfinity’s Internet Computer protocol, has entered the race to build a scalable DeSo platform with $9 million in seed funding led by Polychain Capital. Other participants in the round include Upfront Ventures, Tomahawk VC, Fyrfly Venture Partners, Shima Capital and Bertelsmann Digital Media Investments (BDMI), according to the company.