#Open-source platform secures tens of millions in funding.#
Hot Topic Overview
Overview
Merit Systems, an open-source economic infrastructure platform, has announced the closing of a $10 million seed funding round led by a16z crypto and Blockchain Capital, with participation from prominent investors and individuals such as Solana co-founder Toly and Not Boring Capital founder Packy McCormick. Merit Systems aims to solve 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 creators for their software. The company plans to use the funding to accelerate the development of the open-source economy and expects to launch a broader product release by the end of February.
Ace Hot Topic Analysis
Analysis
Open-source platform Merit Systems recently 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 adequate compensation for their contributions. The company is building a protocol that provides fair attribution and rewards for open-source developers, enabling users to directly pay creators 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 based in the Domino Sugar Factory building in Brooklyn 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
Open source economic infrastructure Merit Systems has closed a $10 million seed round, aiming to accelerate the growth of the open-source economy.
Merit Systems is tackling the 'attribution problem' in open-source software, providing fair credit and rewards for developers.
Merit Systems is addressing the long-standing 'attribution problem' by building a protocol that allows users to pay creators of software directly.
Merit Systems is valued at $55.5 million and is expected to launch a broader product version by the end of February. It also plans to add seven more employees in the coming months.