Crypto companies raise $44M for Web3 & Blockchain scalers

Some crypto companies, put together, have managed to raise for themselves the amount of $44 million in funding. However, Hi seems to have beaten them all by managing to acquire funding from Animoca Brands to the tune of $30 million. In the case of Hi, it is known to have an entire array of products on its website. This includes a crypto exchange, a savings module that provides yearly percentage yields, and many more.

The association that has been formed between Hi and Animoca Brands will be concentrating on the Hi payments application, along with its Layer 2 protocol. These are currently not existing anywhere in the US. According to the Co-Founder and Executive Chairman of Animoca Brands, Yat Siu, they are extremely pleased to be associated with Hi and will help the company in its endeavor to create a link between the fiat and cryptocurrency arena. 

Where EthStorage is concerned, its overall evaluation reached the figure of $100 million. This was made possible by its acquiring $7 million via a seed round. It was dao5, a crypto investor, that was the leader, followed by SevenX Ventures, as well as Sky9 Capital, Foreign Ventures, and some more investors. EthStorage, which is a Layer 2 storage rollup, is currently in the process of development. The entity is actively involved in carrying out upgradation to Ethereum’s storage and transforming it from the level of terabyte to the level of perabyte. An approximate thousand terabytes add up to a single perabyte. 

Some other companies that made the mark of being able to raise funding for themselves are Delabs and Releap. In the case of Delabs, which is a Web3 game developer, it managed the amount of $4.7 million, whereas REleap, which is a decentralized social graph, managed to acquire $2.1 million for itself.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button