On November 9 during the Breakpoint Solana conference in Lisbon, Portugal, Reddit Co-founder Alexis Ohanian's fund Seven Seven Six and Solana Ventures announced committing $100 million to grow decentralized social media projects on Solana's blockchain.
Originally, the commitment was for $50 million, but at an onstage discussion, Ohanian increased it to $100 million. “I realized $50 million is not that much…so we’re gonna increase it to $100 million, ” Gokal said.
#FreeRaj
Oddly enough, this announcement came the next day after the co-founder of Solana Raj Gokal was suspended from Twitter for violating Twitter Rules. The suspension followed after Raj jokingly replied to one of his friends tweets:
After the event, the community created a hashtag #FreeRaj on Twitter. The next day on the conference Raj announced that he wants to be freed from centralized social media.
See the full presentation here: