Bluesky, the social media platform that has seen surging growth following Elon Musk’s takeover of Twitter, raised $15 million in a funding round led by a crypto-focused venture capital firm, the company announced Thursday.

But that doesn’t mean the social media network plans to embrace digital assets. 

The Series A funding round was led by Blockchain Capital, a venture firm that has invested in OpenSea, Kraken, and Coinbase. Several other crypto-related venture firms—including SevenX, True Ventures and Alumni Ventures—participated in the funding round, as well.

Nonetheless, the social media startup vowed that it would not “hyperfinancialize” the Bluesky “social experience” by integrating crypto tokens, NFTs, or other blockchain-based technology into its platform. Bluesky is built atop the decentralized AT Protocol.

“This does not change the fact that the Bluesky app and the AT Protocol do not use blockchains or cryptocurrency, and we will not hyperfinancialize the social experience,” Bluesky said in its statement.

Bluesky now has over 13.1 million registered users, according to
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Author: Liz Napolitano