Fun

Private Blockchain Project Funding Accelerates as Companies Race to Address New Needs

News Feed - 2021-03-09 01:03:30

Private Blockchain Project Funding Accelerates as Companies Race to Address New Needs


Blockchain operations are increasingly embracing more traditional financing from big-name venture funds to leverage these strategic stakeholders’ benefits instead of crowdfunding avenues popularized during the last blockchain hype wave. Funding Roundup: Concordium, StakeWise, and Automata Reveal Private Capital from Leading Funds


In a significant departure from the last crypto startup wave focused on raised public capital in the form of initial coin offerings (ICO), token sales, and exchange launches, today’s advancing blockchain initiatives are increasingly tapping private capital from venture funds. Though the sums awarded aren’t eclipsing the billions raised by projects in previous years, the latest developments are positive for companies, funds, and users at large.


A blockchain VC investment leverages the expertise and due diligence of the fund itself, lending greater credibility to the underlying project. Accordingly, companies turn to these more traditional funding outlets to bolster project reputations and burnish their credentials. Enterprise Blockchain Enters The Fundraising Drive


As business interest in blockchain continues to accelerate, decentralized blockchain has concluded a €10 million private token sale that is designed to help the blockchain expand its footprint in the enterprise arena.


Concordium, which recently announced a partnership with Geely Group, plans to deploy the funds to help large companies adopt blockchain across multiple areas after rigorous testing of its protocol-level ID concept. The blockchain, which can support smart contracts, self-sovereign IDs, and more, plans to launch its mainnet during the second quarter. Smaller Sums Don’t Mean Less Significant Projects


Even when amounts are more limited relative to past crypto fundraising drives, the operations receiving private funding are by no means insignificant and by nature reflect the shifting infrastructure of the whole ecosystem.


Ethereum staking protocol Stakewise is among the organizations that have recently closed a private funding round. The ETH2 staking protocol is on the cusp of its mainnet launch after initiating an Early Adopters Campaign and landing a modest private funding round worth just $2 million. The latest financing following its seed capital from Collider Labs was led by Greenfield One alongside Collider Ventures, Gumi Cryptos, Lionschain Capital, and other private investors.


Another project ramping up is Automata Network, a leading privacy-oriented middleware protocol. A joint $1 million raise arrived from a consortium that includes Alameda Research, Divergence Capital, Genesis Block Ventures, IOSG Ventures, and KR1.


The company, which focuses on adding complementary Web3 privacy functionalities and infrastructure to existing projects, intends to use these funds to further product research and development while also enlarging Automata Network’s footprint and community engagement.


Do you see blockchain companies returning to crowdfunding in the future as the market matures and trust regained? Let us know what you think in the comments section below. South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges NEWS | 6 hours ago Critics Claim Tesla Should Sell Bitcoin Position, Electric Vehicle Firm"s Shares Down 30% Since Buying NEWS | 1 day ago Tags in this story Automata Network, Blockchain, Blockchain VC, Capital Funding, Concordium, crypto investments, stakeholders, Stakewise, VC, VC Funds


Image Credits: Shutterstock, Pixabay, Wiki Commons Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Derek Andersen2 hours agoSouth Korean central bank charts out future course of payment systems, CBDCThe BOK 2022 Payment and Settlement Systems Report is a forward-looking document with ambitious plans for financial tech
Sky Mavis Launches Katana, a Native Dex for Its Ronin Sidechain
Sky Mavis Launches Katana, a Native Dex for Its Ronin Sidechain Sky Mavis, the company behind the development of Axie Infinity, has launched Katana, the first decentralized exchang
BNB Was the Top Ten’s Best Market Performer in Q2, Bitcoin Takes Second Place — Solana Performed the Worst
BNB Was the Top Ten"s Best Market Performer in Q2, Bitcoin Takes Second Place — Solana Performed the Worst With the first half of the year gone, statistics from the second quarte
Bitcoin Mining Operation Being Sued for Producing High Noise Levels in Tennessee
Bitcoin Mining Operation Being Sued for Producing High Noise Levels in Tennessee A bitcoin mining operation in Tennessee is being sued by neighbors due to the high level of noise t
Bitcoin Academy in Brooklyn Backed by Jay-Z and Jack Dorsey Airdrops BTC to Class Participants
Bitcoin Academy in Brooklyn Backed by Jay-Z and Jack Dorsey Airdrops BTC to Class Participants Rap star Jay-Z, otherwise known as Shawn Carter, and Block CEO Jack Dorsey, recently
Pudgy Penguins sold 1M plushies in 12 months, says CEO
Martin Young3 hours agoPudgy Penguins sold 1M plushies in 12 months, says CEOPhysical versions of the popular Pudgy Penguin NFT collections are selling like hotcakes.709 Total views9 Total sharesListen to article 0:00New
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC Bitcoin moved back above $16,000 on Nov. 23, as markets continued to react to the ne
William Suberg1 hour agoBitcoin price must take $26K, trader says after ‘textbook short squeeze’Bitcoin shorts start to suffer thanks to a $1,000 BTC price relief rally, but key resistance remains in place.1177 Total
Apple poaches Google AI staff, creates ‘secretive’ laboratory: Report
Savannah Fortis14 hours agoApple poaches Google AI staff, creates ‘secretive’ laboratory: ReportApple has reportedly been luring experts from Google in its efforts to catch up with Big Tech companies in the race to d
Cardano Price To $0.77? ADA’s Potential Path To Recovery
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Japan regulator clarifies stance on P2P crypto transfers
David Attlee33 minutes agoJapan regulator clarifies stance on P2P crypto transfersThe FSA says its recommendations don’t envisage “any transactions from one individual to another.”921 Total viewsListen to article 0
Crypto Craze: Investor Nets A 3,360% Gain, Turning $86,000 Into $3.75 Million
Este artículo también está disponible en español. In another fabulous story from the crypto market, an investor has realized a staggering 3,360% return, transforming an i