Nfts
Paragraph acquires Mirror, focuses on new Web3 app “Kiosk”
Mirror’s pivot to a new Web3 social platform
Denis Nazarov, founder of Mirror, described the new platform as a social space where users “see not only what people are saying, what they like and who they follow – but also what assets they are buying”. He added: “We believe that the whole idea of ownership and collection of assets is not only transactional, it is also social. »
Although financial details of the acquisition have not been made public, Colin Armstrong, founder of Paragraph, indicated that the deal was structured to satisfy both parties. “Everyone is very happy with the result. Mirror can continue its new product, and the Mirror product can continue under the leadership of a person completely dedicated to publishing,” he shared.
Union Square Venturesan investor in both Mirror and Paragraph, helped facilitate the deal.