2023-7-25 19:53 |
The new capital will help develop the SUAVE decentralized platform for maximal extractable value (MEV).
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The fundraise was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital.
The fresh round of capital will be used to help launch Puffer’s mainnet.
Blockchain firms are attempting to address concerns that Big Tech giants like Microsoft, Meta and Alphabet will build an artificial-intelligence oligarchy.
The round was led by Castle Island Ventures and included participation from Mechanism Ventures, Bankless Ventures, CMS Ventures and UTXO Management.
Decentralized infrastructure is the use of blockchain technology and token incentives to build physical networks so other projects don't need to incur the costs of buying and running their own equipment.
Wormhole, which was recently separated from parent Jump Trading Group after it scaled back its crypto operations, is a developer platform which allows different blockchain networks to communicate with each other.
Ritual's aim is to open access to the infrastructure that lies behind AI innovation, which at present "lies in the hands of a few powerful companies."