Mem Protocol Closed $3.1 Million in Funding Led by a16z

TokenInsight news, Mem Protocol, a decentralized social media protocol, has closed a $3.1 million funding round led by a16z with participation from former Coinbase CTO Balaji Srinivasan, Polychain's Olaf Carlson-Wee and others. Founded in May 2021, Mem is building a decentralized social media protocol centered on data sovereignty that aims to enable everyone to have their own circle of friends, explore the blockchain world, and earn income by sharing knowledge. mem protocol currently builds a profile browser where new users adding verifiable on-chain identities can ask questions with reputation and smart contracts, post rewards to raise funds, and more.