The on-chain identity project Phi has completed a new strategic seed round of financing, with Neoclassic Capital leading the investment.

Odaily Planet Daily News According to official sources, the on-chain identity project Phi has completed a new round of strategic seed round financing, led by Neoclassic Capital, with participation from Decima Fund, CYBER, PAKA fund, and Incubate Fund. This is Phi's second round of financing after a $2 million seed round led by ChapterOne and Delphi Digital in 2022. The new financing will be used to build a dedicated Decentralization authentication system for on-chain identity. Phi was founded in January 2022 and launched its first product, Phi Land (philand.xyz), a social metaverse that visualizes on-chain activities on ENS, designed by pixel artist eBoy. After 9 months of development since the launch of the Phi Protocol binding website in March this year, the team launched Phi Protocol this week. The team is dedicated to creating more unique and interesting experiences through collaborations with other chain ecosystems, protocols, creators, brands, and communities. In addition, it has improved phi.box for users and creators, and is building a new application to showcase on-chain identities in various formats and environments.