SocialFi startup Matera raises $3.6 million in funding

Web3 startup Matera has successfully raised $3.6 million in funding, with supporters including Sidedoor Ventures, HighCass Crypto, Medusa Ventures, The Sandbox, and Saxon Partners. Matera plans to develop a blockchain infrastructure, including a DeFi platform, protocol layer, and L2 network. The funds raised will be used to build a creator platform that combines DeFi with social media, addressing the common monetization challenges in the creator economy. Matera currently supports creators on X, enabling them to raise funds and profit from their loyal fan base, and plans to integrate and expand to other social media platforms.