PANews reported on April 30 that according to The Block, Re7 Capital announced the establishment of a $10 million SocialFi special fund, aiming to invest in about 30 early-stage projects. Although the field is still developing slowly, Re7 partner Luc de Leyritz said that "the time is ripe" and infrastructure, talent and user behavior have reached resonance. The fund will invest in the form of first-round checks of mainly $100,000 to $300,000, focusing on supporting emerging SocialFi platforms in the ecosystem such as Lens Chain and Farcaster. 60% of the first round of funds has been subscribed.