According to a report from Deep Tide TechFlow on October 16, as per the official Avalanche blog, The Arena, a social protocol within the Avalanche ecosystem, has announced the completion of a $2 million Pre-Seed funding round. Investors in this round include the Avalanche ecosystem fund Blizzard, Ava Labs, members of the Avalanche leadership team, Balaji Srinivasan, Abstract Ventures, D1 Ventures, and several well-known angel investors. The Arena, formerly known as Stars Arena, was acquired and rebuilt by a new team in November 2023. Currently, the platform boasts over 200,000 registered users and has paid content creators more than $6 million, with total transaction volume exceeding $100 million. The CEO of The Arena, Jason Desimone, stated that the platform is leveraging its partnership with Stripe to support users in purchasing cryptocurrencies using credit cards, thereby lowering the entry barrier for users.

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<p>According to Deep Tide TechFlow, on October 16, the official Avalanche blog announced that The Arena, a social protocol within the Avalanche ecosystem, has completed a Pre-Seed round of financing amounting to 2 million USD. Investors in this round include the Avalanche ecosystem fund Blizzard, Ava Labs, members of the Avalanche leadership team, Balaji Srinivasan, Abstract Ventures, D1 Ventures, and several well-known angel investors.</p>
<p>The Arena, formerly known as Stars Arena, was acquired and rebuilt by a new team in November 2023. Currently, the platform has over 200 thousand registered users, has paid over 6 million USD to content creators, and surpassed a total transaction volume of 100 million USD. Jason Desimone, CEO of The Arena, stated that the platform is leveraging its partnership with Stripe to enable users to purchase cryptocurrencies using credit cards, thereby lowering the entry barrier for users.</p>
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The Arena, an ecological social protocol on Avalanche, has completed a $2 million Pre-Seed funding round.