The web3 publishing platform Paragraph raised $5 million in fresh financing in addition to acquiring Mirror, an Ethereum-based blogging platform.

Paragraph founder Colin Armstrong will serve as CEO and Mirror founder Denis Nazarov will take on an advisor role, according to a release from Paragraph. Paragraph also raised $5 million in fresh financing from Union Square Ventures and Coinbase Ventures. 

Paragraph notes that no immediate changes will occur on either platform for writers and publishers. "All of your writing will remain and you’ll still have access to the same great tools for publishing," Paragraph said in the release. 

"We're thrilled to accelerate our mission of fundamentally changing how creators build and grow direct relationships with their audience," Armstrong