Xverse Raises $5 Million in Seed Round Led by Jump Crypto
The Web3 app, Xverse, has secured $5 million in a seed funding round led by Jump Crypto, a well-known industry investor. This funding will be used to speed up the development of advanced features related to decentralized finance (DeFi) and Bitcoin scaling solutions such as Stacks, Lightning, and others.
Key Points:
– Xverse is a Hong Kong-based company that supports Ordinals, a technology that allows for the creation of non-fungible tokens (NFTs) on the Bitcoin blockchain through inscription.
– Ordinals gained attention last month when daily new inscriptions reached 350,000.
– Xverse is accessible through iOS, Android, and a Chrome extension, making it convenient for users.
– Other investors in the seed round include RockawayX, Sfermion, Alliance, NGC Ventures, and many more.
This funding will enable Xverse to further innovate and expand its offerings in the crypto space, particularly in the areas of DeFi and Bitcoin scaling solutions. With the support of Jump Crypto and other notable investors, Xverse is well-positioned to make significant contributions to the evolving crypto landscape.
Hot Take: Xverse’s ability to generate NFTs on the Bitcoin blockchain through Ordinals showcases the potential for innovation within the crypto industry. The funding secured in this seed round will undoubtedly propel Xverse towards becoming a leading player in the DeFi and Bitcoin scaling solutions space.
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