(...)For example, in just a couple of months, projects built on the Switzerland-founded Internet Computer (ICP) have already raised over $15 million through the ICP's community governance model.
And there's not a VC in sight.
What is the Internet Computer? It sounds like something a boomer would say to describe what they use to surf the web, but the Internet Computer was developed by the Internet Computer Protocol (ICP).
It enables people to build Web3 services and enterprise systems directly on a public decentralised network, scaling to hosting social networks and media streaming.
Hosted services are tamperproof, don't need firewalls, support Web3 functionality, and can trustlessly interact with the outside world. In effect, The Internet Computer blockchain acts as a complete alternative technology stack, replacing the centralised IT stack mostly controlled by "Big Tech".
The ICP asserts that developers can create decentralised dApps and services in emerging areas such as SocialFi and GameFi, which blend social media and game functionality with DeFi, and "build out the fully decentralised metaverse." (...) ICP startups have raised over $15 million through the ICP's Service Nervous System (SNS) community governance model.
OpenChat (UK) raised over $5.5 million (1 million ICP) in just 6 hours of its decentralised fundraising round. Its creating a chat application running end-to-end on the Internet Computer blockchain.