#Open-source platform Merit secures multi-million dollar funding.#
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Overview
Open-source platform Merit Systems has announced the completion of a $10 million seed funding round led by Andreessen Horowitz's crypto fund and Blockchain Capital, with participation from Solana co-founder Toly, Not Boring Capital founder Packy McCormick, and others. Merit Systems is focused on solving the "attribution problem" in open-source software by building a protocol that provides fair attribution and reward mechanisms for open-source developers, enabling users to directly pay software creators. The company plans to use the funds to accelerate the development of the open-source economy, with a wider product release expected by the end of February. Merit Systems also plans to add seven employees in the coming months, fostering a team culture built around in-person collaboration.
Ace Hot Topic Analysis
Analysis
Open-source platform Merit Systems has announced the closing of a $10 million seed round led by Andreessen Horowitz's crypto fund and Blockchain Capital, with participation from Solana co-founder Toly, Not Boring Capital founder Packy McCormick, and others. The funds will be used to accelerate the development of the open-source economy. Merit Systems aims to solve the "attribution problem" in open-source software, where developers struggle to receive due credit for their contributions. The platform establishes a protocol that provides fair attribution and reward mechanisms for open-source developers, enabling users to pay creators directly for their software.Founded by Sam Ragsdale, Ryan Sproule, and Mason Hall, Merit Systems is currently valued at $55.5 million and is expected to launch a wider product version by the end of February. The company is located in Brooklyn's Domino Sugar Factory building and plans to add seven new employees in the coming months, fostering a team culture focused on in-person collaboration.
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Public Sentiment
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Classic Views
Merit Systems aims to solve the "attribution problem" of open source software, providing fair attribution and reward mechanisms for open source developers.
Merit Systems builds a protocol that allows users to directly pay software creators.
Merit Systems has raised $10 million in seed funding led by a16z crypto and Blockchain Capital, the funds will be used to accelerate the development of the open source economy.
Merit Systems aims to solve the problem of open source developer incentives and build a fair open source economic infrastructure.