NEW YORK, Monday, May 13, 2024 – Web3 content creation platform Paragraph has announced that it has secured $5 million in funding and acquired fellow web3 platform Mirror in a significant move within the decentralized publishing space. 1
The funding round was led by prominent venture capital firms Coinbase Ventures and Union Square Ventures. Paragraph plans to assume full control of Mirror, encompassing its product, design system, and brand identity.
Founded in late 2020, Mirror established itself as a popular platform for writers seeking to leverage crypto-based tools. This included features like decentralized storage, blockchain-powered domains, crowdfunding capabilities, and integration with non-fungible tokens (NFTs).
The acquisition is expected to have no immediate impact for existing Mirror and Paragraph users. Content will remain accessible, and users will continue to have access to their current publishing tools.
While specific details on future integration plans are yet to be announced, both companies aim to accelerate the adoption of on-chain technology within the content creation landscape.
- twitter.com: https://twitter.com/paragraph_xyz?lang=en[↩]
