Reddit co-founder to invest $50 million in social media on Solana

Reddit co-founder to invest $50 million in social media on Solana

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."

This comes a day after FTX CEO Sam Bankman-Fried said that building social media on the blockchain could be "absolutely huge."

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