Business News Report Technology
July 19, 2023

Web3 Infrastructure Company Cosmic Wire Raises $30M in Seed Round Led by Polygon and Solana Foundation

Cosmic Wire, a web3 and blockchain solutions tech company, has emerged from stealth with $30 million raised in a seed round led by Solana Foundation and Polygon.

Founded by CEO Jerad Finck, Cosmic Wire aims to help artists monetize their IP from web2 to web3 through its focus on immersive storytelling. The newly raised funds will accelerate the development of the company’s decentralized applications (dAapps) that will enable seamless data transfer and interoperability across different blockchains. 

Apart from that, the company is also building platform-agnostic, scalable, and interoperable blockchain technology. Through its platform, Cosmic Wire aims to give users complete control over their data and online interactions. 

The company’s web3 infrastructure will be built on the Solana network, said Johnny Lee, general manager of Games, Entertainment, and Media at Solana Foundation.

“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. Solana Foundation has always supported tools and infrastructure builders, and we are excited for Cosmic Wire to deliver new metaverse experiences on the Solana network that have never been possible before,” Lee added.

In addition to the fundraise, Cosmic Wire has been selected as a participant in Google Cloud’s Web3 startup program, prior to its official launch, giving the company access to customized resources and Google Cloud credits. Solana Foundation is one of Google Cloud’s partners for the program.

Expressing his excitement about the fundraise, Finck said: “Thanks to the massive success of the Seed round, we’re now empowering creators, businesses, and entire industry sectors connecting people globally, and transforming the very way we communicate and transact. Cosmic Wire is blazing the path forward driving Web3 in exciting new ways resulting in exponential increases of efficiencies and monetization of systems at scale.  We have all seen what Web3 isn’t, now we will show you what it is.”

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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