In the Web3 space, the development prospects of the SocialFi track were once highly questioned. However, the Towns project has stood out against this backdrop, securing investments from top well-known institutions in Europe and the United States in two consecutive rounds. Behind this success, the CEO of Towns played a key role.

As a former 'Scout' at Sequoia Capital, Towns' CEO has accumulated a wealth of connections over seven years of experience. This role, similar to a sports scout, primarily focuses on identifying potential unicorn companies. It is these valuable industry resources and networking connections that have earned Towns the favor of top institutions, including a16z.

The Towns project received consecutive funding in 2023 and 2025, attracting attention and discussion within the industry. There are two possible explanations for this: first, the CEO's personal influence and resources are indeed strong enough to attract investors; second, a16z is actively coordinating resources to ensure the project's continued development to protect its 2023 investment project. The latter possibility seems more in line with the current market environment.

It is worth noting that Coinbase Ventures ultimately also participated in the investment in Towns. This decision may be related to Coinbase's own strategic layout. The Base public chain developed by Coinbase is dedicated to applications in the social direction, with popular projects such as Farcaster and Firely running on Base. The addition of the Towns project may further enrich the social attributes of the Base ecosystem.

Despite the overall challenges faced by the SocialFi sector, the successful financing of the Towns project has sparked new reflections within the industry on the prospects for Web3 social development. It not only showcases the importance of a strong network in project development but also reflects the strategic intentions of large institutions to continue their layout in the Web3 social field. In the future, with technological advancements and changes in user demands, Web3 social may redefine the online social experience in new forms.