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Cryptogambling / Avail raises $27M in seed funding for Unified Web3 Infrastructure Solution

Avail raises $27M in seed funding for Unified Web3 Infrastructure Solution

Publish Date: 27/02/2024
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Avail, a prominent player in the modular blockchain sector, recently secured $27 million in seed funding from renowned investors including Peter Thiel’s Founders Fund and Dragonfly Capital. This investment marks a major step for Avail that accelerates the development of its innovative solution – Data Availability (DA), Nexus and Fusion Security – focused on solving scalability challenges and supporting a new era for Web3 infrastructure.

Venture capital firms with a strong track record in blockchain, like Founders Fund and Dragonfly Capital, are backing Avail’s vision to unite the fragmented Web3 space. Founders Fund has supported early-stage successes like Airbnb, Palantir, and SpaceX, while Dragonfly Capital invests in key blockchain protocols like AAVE, Chainlink, and Oasis Network. Their expertise and network access position Avail for substantial growth and potential industry leadership.

Today’s raise led by world-class VCs, Founders Fund and Dragonfly, accelerates our vision to unify the Web3 space and solve the growing pains of fragmentation

Anurag Arjun, Founder of Avail Project

Revolutionary interoperability in Web3

Avail’s modular architecture streamlines Layer 2 rollup integration, enhancing blockchain efficiency. In contrast to traditional blockchains facing scalability issues, Layer 2 solutions like Avail’s facilitate faster and more cost-effective transactions by “rolling” them off the main chain.

Avail’s 3-pronged approach to innovation

Data Availability (DA): Ensures secure data storage for cumulative layer 2 while maintaining compatibility with different ecosystems. This is crucial because digests require a way to validate transactions without storing all the data on the main chain, which would defeat the purpose of scalability.

Nexus: Acts as a permissionless authentication center and improves cross-chain interoperability and security. Nexus facilitates communication and data exchange between different blockchains and supports a more connected Web3 environment.

Fusion Security: Enables the inclusion of assets from established blockchains such as Bitcoin and Ethereum, further strengthening the overall security of the platform. This feature allows developers to leverage the security and established user base of these mature blockchains within their applications built on the Avail platform.

The Future of Charting Avail

In preparation for the mainnet launch, Avail has established strategic partnerships with key players in the industry, including Chainlink and The Graph. These partnerships allow you to leverage established Oracle services and indexing services and further enhance the functionality and reach of your platform. It also plans to introduce Nexus in February 2024, followed by Fusion Security later this year.

Collaboration for a unified Web3

Co-founder Anurag Arjun emphasizes the importance of collaboration in addressing fragmentation, reflecting Avail’s commitment to working with industry leaders such as Founders Fund and Dragonfly Capital. This collaborative approach encourages knowledge sharing and accelerates innovation across the Web3 space.

Boosting Web3 Scalability with Seed Funding

$27 million in seed funding enables Avail to grow the Web3 infrastructure by empowering the team to address critical scalability issues and support continuous innovation. This funding allows Avail to expand its development team, attract top talent and invest in research and development activities aimed at further improving the capabilities and functionality of its platform.

Rise of Modular Blockchain Solutions

Avail’s modular approach sets it apart from other blockchain platforms and facilitates rapid innovation and adaptation. Similar projects like Celestia, Lava and Inco have also gained attention for their scalability solutions in the DeFi and NFT markets.

Their stellar staff, tech stack, and rising ecosystem are enabling a extra modular design area for initiatives to construct on their infra.

Joey Krug, Partner at Founders Fund

Development towards Mainnet: Avail’s Journey

After splitting from Polygon Labs in March 2023, Avail embarked on a mission to harmonize the Web3 sector. Recent funding from established venture capital firms position Leverage to lead the advancement of the blockchain industry, promote structural unity, and expand the reach of the Web3 decentralized infrastructure.

As decentralized applications continue to evolve, Avail and similar initiatives are helping to create a more connected, interoperable, and scalable future for the blockchain industry. Avail’s unwavering commitment to collaboration and innovation underlines its determination

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