Lines web3 messaging platform raises $4 million seed round 

Quick Take

  • Sahil Handa, co-founder and CEO of Lines, a web3 messaging platform now under development, said the company recently closed a $4 million seed round led by Elad Gil.
  • One reason that millions of dollars are lost to hacks and scams, Handa said, is because web3 native identity has no verifiable communications platform.  

Lines, a new crypto messaging platform, has raised $4 million in a seed round led by former Twitter VP Elad Gil, according to its co-founder Sahil Handa.

“There is a rapidly increasing number of people using crypto pseudonyms to purchase digital currency, swap NFTs, vote on proposals, and manage treasuries,” Handa, who is also Lines CEO, said today in an email. “The problem is that whenever someone tries to communicate with another person in this network, there is no way of knowing whether or not they are talking to the right person.” 

This is one reason millions of dollars are lost to hacks and scams, he said, because among other problems, web3 native identity has no verifiable communications platform.  

Handa said he and Lines two other co-founders, all of whom studied philosophy at Harvard, are working to solve the problem by “building an app that lets you send messages from wallet to wallet and join group chats based on the tokens you own.” 

Lead investor Gil said that one of the “more interesting parts of crypto right now” is the “intersection of social messaging and web3,” according to a recent TechCrunch report. Today’s messaging tools may not be adequate, so there are opportunities to get it right, he added.

Other round participants included Hash3, Scalar Capital, Volt Capital, Caffeinated Capital, Ethereal Ventures, Mischief, Naval Ravikant, Balaji Srinivasan and Gokul Rajaram.

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