Crypto social network 0xPPL secures funding from AllianceDAO, others

0xPPL, a social networking platform for the crypto community, has raised an undisclosed amount of equity funding from AllianceDAO, Anagram and Peak XV Partners.

Notable angel investors who have backed the firm include venture capitalist Balaji Srinivasan, Anatoly Yakovenko and Raj Gokal of Solana Labs, and Sandeep Nailwal of Polygon, among others.

The funds will be used to enhance 0xPPL's product offerings, expand its team, and further its mission to become the leading on-chain social networking platform, the company said on Tuesday.


“We are so thankful for the belief and confidence placed in our vision,” said Prasanna Sankar, founder of 0xPPL. “Through this funding, we will be able to get a wealth of knowledge from industry leaders and work with them as we build 0xPPL into a go-to crypto app.”

Founded in August 2022, 0xPPL connects individuals with shared interests in cryptocurrencies, offering an ecosystem where users can track crypto assets and non-fungible tokens (NFTs) traded by those they follow.

The platform enables users to monitor portfolios across multiple blockchains, including the Ethereum Virtual Machine (EVM), Solana, Bitcoin, TION, and Cosmos, all in one place. Users can also keep track of invested amounts, profit and loss, 24-hour changes, and staking rewards, while staying updated on token holdings, protocol positions, and NFT values.

0xPPL said the funding aligns with the broader trend of blockchain-based platforms driving innovation across industries like finance, gaming and social media. However, the company acknowledged that navigating multiple blockchain ecosystems and managing assets across various networks remains a complex challenge.

“This strategic investment reflects our belief and commitment towards the next generation social network by 0xPPL that offers a safe and seamless way for the crypto natives to navigate the decentralised world,” a spokesperson for AllianceDAOsaid. “Their vision for seamless on-chain interactions aligns perfectly with where the future of Web3 is heading, particularly as decentralised networks become more integral to how we connect, share and collaborate online.”

0xPPL's competitors include decentralised social networks like Phaver, Easy and Farcaster.