Legend Raises $15M Seed

Legend, a decentralized social platform, raised $15 million in a seed round. The startup, which operated for two years, has announced it is shutting down all operations after failing to achieve necessary network effects.

Investors

The round was led by Andreessen Horowitz and Coinbase Ventures.

Legend Use of Funds

Capital was primarily utilized for engineering and high-end security audits to develop a decentralized social media alternative and tokenized ecosystem.

About Legend

Founded around 2024, Legend aimed to create a Web3-native alternative to mainstream social media, allowing users to own their data and monetize social interactions through a tokenized ecosystem.

Funding Details

Company Website: https://legend.xyz

Company: Legend
Raised: $15M
Round: Seed
Funding Date: May 13, 2026
Lead Investor: Andreessen Horowitz, Coinbase Ventures
Software Category: SocialFi / Web3
Source: https://financefeeds.com/fintech-startup-legend-to-shut-down-following-fifteen-million-dollar-seed-round/