Avalanche-Based Social Protocol The Arena Secures $2 Million Pre-Seed Funding

According to Odaily, Avalanche-based social protocol The Arena has successfully raised $2 million in a pre-seed funding round. The investment was led by Blizzard (Avalanche Ecosystem Fund), Ava Labs, and members of the Avalanche leadership team. Other notable participants included Balaji Srinivasan, Abstract Ventures, D1 Ventures, Saron Funds, Alpha Crypto Capital, and angel investors from Galaxy Digital, Fenbushi, Republic, Espresso Systems, Efficient Frontier, and Dao5. The Arena, which serves as a social hub within the Avalanche ecosystem, is also welcoming participation from key partners such as the Trader Joe and Benqi teams. To enhance user experience, The Arena is leveraging its partnership with Stripe to facilitate seamless cryptocurrency purchases using credit cards. Additionally, to reach a broader creator market, The Arena plans to expand its login options beyond X to include Instagram, TikTok, and Reddit. The platform is also set to launch a mobile application.