Cosmic Wire secures $30M in seed funding for Web3 expansion

Cosmic Wire secures $30M in seed funding for Web3 expansion

Cosmic Wire, a leading technology company in Web3 and blockchain solutions, has successfully raised $30 million in its Series Seed round. This significant investment, led by Solana Foundation and Polygon, positions Cosmic Wire as the first-ever cross-chain funded Web3 company.

The Miami, Florida-based company is at the forefront of Web3 innovation, offering decentralized applications that form the backbone of today’s Web3 ecosystem. The company’s primary objective is to give users complete control over their Web3 data and online interactions. Additionally, they aim to foster trust and individual sovereignty.

A Vision for a Decentralized Web3 Ecosystem

With a vision for a decentralized Web3 ecosystem, Cosmic Wire aims to use the recent funding to accelerate the development of a secure, transparent, and decentralized digital Web3 ecosystem. The company will primarily focus on developing cross-chain technology to facilitate data transfer and interoperability across diverse blockchains.

Cosmic Wire stands out from traditional platforms as it does not exchange user access for ownership. Instead, through cross-chain technology, it embraces a decentralized strategy, ensuring security. This approach aims to empower users by elevating them above the status of mere users to that of owners and fostering trustless interactions within a fully algorithmic and open framework.

The organization’s Web3 infrastructure will be built on the Solana network.

“We are very excited for Cosmic Wire’s Web3 infrastructure to be built on the Solana network. Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs, payment solutions, and avatar UGC all integrated”, said Johnny Lee, general manager of games, entertainment, and media at Solana Foundation, in a press release.

Moreover, Google Cloud’s eagerly awaited Web3 startup program has accepted Cosmic Wire. Through this program, the company will gain exclusive access to customized resources. This includes a substantial allocation of Google Cloud credits for two years, unprecedented entry into Google’s Web3 ecosystem, and a range of complimentary benefits. This endorsement demonstrates Cosmic Wire’s leadership in the upcoming blockchain and immersive technologies.

CEO and Founder of Cosmic Wire, Jerad Finck, expressed gratitude for the overwhelming support from investors and partners. Furthermore, he emphasized that the company’s success in the Seed round will empower creators, businesses, and entire industry sectors, transforming how we communicate and transact.

The company is actively preparing to broaden its global presence. With Cosmic Wire at the helm, the future of Web3 shines brightly.

About The Author

Farukh Kitchlew

Farukh is a student of BBA at NUST, and writes about technology startups and is interested in makeup and fashion.

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