PANews reported on January 17 that according to The Block, the Solana-based social graph protocol Tapestry has completed a $5.75 million Series A financing round, which was jointly led by Union Square Ventures and Fabric Ventures, with participation from Stellation Capital, Slow Ventures and Foresight Ventures. This round of financing values Tapestry’s equity at $35 million, the token network at $70 million, and the total financing amount has reached $12.5 million.

Tapestry focuses on providing infrastructure for blockchain applications that integrate social functions, using Solana's state compression technology to reduce costs. The team plans to expand to other blockchain ecosystems, such as Aptos and Monad, and adopt a freemium model to provide services to developers, while exploring future data reading and writing protocol charging models.