Seychelles, April 5, 2021 /AlexaBlockchain/ – The Octopus Network raised US$3 million in a seed-funding round for building out the base level infrastructure of Octopus Network.
The fundraise includes investment from deep-crypto venture firms, including D1 Ventures, SevenX Ventures, Puzzle Ventures, PNYX Capital, Electric Capital, Ascensive Assets, Original Capital, ZMT Capital, Bixin, OKEx Block Dream Fund, Spark Digital, ChainX, Stafi, and NGC Ventures.
Prior to this seed round, Octopus had received a $1 million dollar strategic investment from the NEAR Foundation. In context this fundraise is a strong vote of confidence in both the future of appchains, as well as NEAR Protocol.
The Early Days of Appchains on NEAR: Octopus in Context
An Appchain is a decentralized Web3.0 application in the form of an independent blockchain. Octopus Network provides appchains with flexible on-demand shared security, out-of-the-box cross-chain interoperability, and infrastructure services including blockchain explorers, API endpoint, indexers, etc. In short, Octopus Network allows for projects to quickly and efficiently customize and launch their own blockchain, without needing to source all of the features required to maintain that blockchain.
By reducing the capital expenditure for publishing and launching an Appchain by two orders of magnitude – from millions of dollars to tens of thousands dollars – Octopus Network is preparing to unleash a new wave of innovation in Web3.0 applications.
On Octopus Network the next generation of Web 3.0 applications can develop in a cost-effective, scalable, and secure manner.