Solana-based project Dare Market has announced a $2 million funding round aimed at expanding what it calls “the most unhinged platform on the internet.”

According to the announcement, the round was led by Karatage and Paper Ventures to help scale product development and growth.

Dare Market describes itself as a platform where anyone can post, accept, or fund dares with cash or crypto, turning internet culture into viral, monetized moments.

Initially unveiled in September, the platform allows users to complete dare tasks posted by others. Participants perform the dares and share their proof on social media in exchange for a reward bounty.

Users can also create their own dares, which they agree to complete once a specific funding goal is met.

Payments on the platform are facilitated through USDC or Solana’s native token, SOL, enabling seamless onboarding across the crypto ecosystem.

In an interview, CEO and co-founder Isla Rose Perfito explained that the product was built to meet a growing cultural demand.

“It offers the two things this generation wants most: money and fame. Now, anyone can post a dare or do a dare and get paid for it. For brands and creators, it’s a live laboratory for cultural moments—proof-based entertainment where the audience isn’t just watching; they’re active participants.”

Adoption has been impressive, with both businesses and individuals using Dare Market for marketing and engagement. Decrypt reported that brands like WTF League are leveraging the platform to promote their campaigns creatively.

In September, one notable dare offered a $28,000 bounty for breaking a backflip record listed in the Guinness Book of Records. The challenge, posted by a project called POIDH, was successfully completed by a participant who claimed the prize.

Dare Market charges a 6.9% commission on the bounty for every successful dare.

The platform shares some similarities with prediction markets, where users bet on outcomes in a yes/no format.

Dare Market and the Rise of Prediction Platforms

While still an emerging concept within crypto, Dare Market’s model mirrors the growing popularity of prediction markets.

Recently, Trump-backed Truth Media launched Truth Predict, allowing users to trade on real-world events while remaining compliant with CFTC regulations. This move makes Truth Social the first social media platform to enter the prediction market arena.

Crypto.com is expected to provide the infrastructure for Truth Predict, onboarding users directly into the trading ecosystem.

Currently, Kalshi and Polymarket dominate the prediction market space, with a combined valuation of over $20 billion. In September, both platforms saw trading volumes exceed $1.44 billion, according to FinanceFeeds.

If Dare Market achieves similar levels of adoption, its volume and valuation could soar significantly by 2026.