Business News Report
February 06, 2024

Ethereum Layer 2 LightLink Raises $4.5M in Funding to Propel Gasless Transactions

Ethereum Layer 2 LightLink Raises $4.5M in Funding to Propel Gasless Transactions

Ethereum Layer 2 blockchain LightLink concluded a $4.5 million seed funding round led by real estate developer MQDC, entertainment technology and media conglomerate T&B Media Global, and Web3 venture capital firms such as JellyC, Aweh Ventures, B3V, Blue7, Organik, Big Kid Ventures, and Gandel Invest, among others.

Developed by the blockchain platform Pellar Technologies, LightLink enables decentralized applications (dApps) and enterprises to provide users with instantaneous, gasless transactions. The company is among the top 10 blockchain rollups in transaction volume, achieving 5,712 transactions per second with a swift 500ms processing time. The Layer 2 scaling solution has recently surpassed 215,000 unique wallet addresses and is currently operational on-chain.

“We aim to bridge the digital economy with millions of users across the globe. The funding we’ve received enhances our focus on making blockchain as intuitive as traditional web platforms, with an emphasis on gasless transactions,” said Roy Hui, Co-Founder and CEO of LightLink. 

Roy Hui facilitated the realization of this vision through collaboration with a seasoned team comprising experienced blockchain engineers and Ethereum experts.

The company boasts a notable track record, having previously partnered with its two primary seed round investors to develop Translucia. This multiverse project merges the virtual and physical realms, backed by $300 million in funding from T&B Media Global and MQDC.

For Translucia, LightLink facilitated swift and fee-free transactions, making it more accessible to users accustomed to traditional Web2 platforms and eliminating the complexities commonly associated with Web3 projects, which often demand substantial computational power.

“This collaboration represents an ideal alignment, fueled by our shared objective to establish an interconnected, user-friendly digital world that spreads happiness globally. We are eager to introduce Web2 users to the capabilities of Web3, firmly believing that this marks a significant stride towards democratizing digital technology,” said Dr. Jwanwat Ahriyavraromp, CEO of T&B Media Global and founder of Translucia. 

The success of LightLink’s seed funding round follows its recent collaboration with Animoca Brands, a metaverse and gaming software company and venture capital firm, aimed at integrating LightLink’s Ethereum Layer 2 technology into Animoca Brands’ gaming projects to advance the Web3 gaming industry.

Using LightLink’s proprietary Enterprise Mode, Animoca Brands plans to facilitate gasless transactions, enabling transactions with fees as minimal as $0.01 across its network.

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About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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