A new crypto messaging platform called Lines raises $4 million in a seed round

[Ambire]

Lines, a new crypto messaging platform has raised $4 million in a seed investment round.  The startup is following in the footsteps of numerous other companies who are attempting to develop Web3 social media solutions. The Merkle Manufactory revealed last week that it had collected $30 million to build a social networking system dubbed Farcaster.

The Lens Protocol was also created with the goal of laying the groundwork for fair, transparent, and interoperable social apps. 

With the rapid growth of blockchain and distributed ledgers, mobile devices, and IoT/BoT, developers seem to be exploring the intersection of technologies, seeking solutions to solve the problem of a diverse set of use cases that span both conventional application development and cutting-edge technology, and as investors, we should see this as a good thing.

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[jackg]

That sounds like a big budget for something like that though - I don't think it'd cost that much to actually produce a decentralised social media platform (even one for video sharing).

I think there also is and has been a lot of such applications and a lot of competition (but nothings arisen as a frontrunner/popular choice yet - I'm assuming this could be due to compatibility problems).