Web3 Social Marketplace Calaxy Announces $1M Fund To Empower Creators
Calaxy, a Black-owned Web3 social marketplace, announced its $1 million fund to give creators more independence. The social marketplace, where users can produce more purposeful experiences to interact with their fans, was founded by tech entrepreneur Solo Ceesay and NBA star Spencer Dinwiddie.
Calaxy, short for “The Creator’s Galaxy,” allows each creator to mint their own cryptocurrencies that their fans can buy to interact with their economy or trade value for a social media engagement. In 2022, it raised $26 million in strategic funding co-led by Animoca Brands and HBAR Foundation with support from Polygon.
Giving creators independence
Since its launch, the platform has introduced “Worlds, ” allowing creators to customize no-code apps. Users can set up shops on these apps to sell subscriptions and digital experiences straight to fans and customers, also known as the “population.” Creators can also access wallets that have cryptocurrencies and NFTs, as stated by information shared with AFROTECH™.
When speaking to AFROTECH™, Ceesay said “At Calaxy, we don’t see creators as just creators, they’re legitimate businesses. Worlds are the platform creators can funnel their audience and retain complete control without having to appeal to the guidelines and desires of the platforms they use.”
Read: Solo Ceesay On Why Venture Diversity Initiatives Continue to Fall Short
Giving power back to creators
Calaxy aims to give creators back power and ensure they have sizeable control over their work and its value. On March 10, 2025, at SXSW in Austin, TX, the platform launched the “It’s Your World” fund, which will provide $1 million in capital to empower 50 creators in the Web3 space.
The fund’s recipients will be announced in June at SXSW London. According to the press release viewed by AFROTECH™, each creator will receive $20,000, as well as “milestone-based incentives” and “monetization opportunities.”
Image: Solo Seesay
