Saga Secures $5M in Seed Extension Funding to Fuel Rapid Expansion

Saga Secures $5M in Seed Extension Funding to Fuel Rapid Expansion

San Francisco, CA, November 20th, 2023, Chainwire

Saga Receives Seed Funding Round from Placeholder

Saga announced the raise of its $5 Million seed extension round led by Placeholder, a deal financial resources firm investing in decentralized protocols and Web 3.0 services. Additional investors include Longhash Ventures, Com2uS, Dispersion Financial resources, Red Beard Ventures, Tykhe Ventures, and AVID3. The total amount raised by Saga is now $13.5 million.

“Saga’s vision is to unblock developers from the high barriers to successfully building in web3,” stated Rebecca Liao, Co- founder and CEO of Saga.

Saga will work on expanding its team of technologists and building its community via partnerships and the Saga Innovator Program. It has 295 Innovator projects building on its protocol and expects over 300 when the Saga Mainnet launches in early 2024. Saga has partnerships with projects including Polygon, Avalanche (AVAX), and Celestia.

“We expect blockchain architectures in the coming years to be much more reminiscent of cloud architectures, with Saga purpose-built to assist usher in that future,” stated Chris Burniske, Partner at Placeholder

Saga launched its Incentivized Testnet (ITN), named Pegasus, which logged over 150,000 transactions and opened 30,000 wallets in two weeks. It intends to airdrop tokens to Pegasus participants.

Notice from the Philippine SEC Regarding Binance’s Social Media Promotions

Saga’s Integrated Stack

Saga’s Integrated Stack is expected to disrupt Web 3.0 for developers by supplying on-demand blockspace provisioning and fast transaction finality on Chainlets. The protocol offers automated, high-performance, gasless, interoperable, and customizable chains.

About Saga

Saga was established in 2022 and recognized as a leading development ecological system in cryptocurrency and Web 3.0 gaming. It offers a developer environment of the future where creators can build easily. The protocol’s early seed investors include Placeholder, Maven11, Longhash, Samsung, Com2uS, and Polygon. Saga has furthered its presence by bringing typically the best ecological systems into its Saga Multiverse through strategic partnerships.

Amazon Enters the Race for Artificial Intelligence with the Launch of Q AI Assistant

Hot Take: Saga’s Vision and Impact

Saga is leading the way in Web 3.0 development with support from investors and innovators. The protocol is focused on empowering developers and ensuring the abundant and simple access to blockspace.

Author – Contributor at | Website

Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

Bitcoin Price Spikes Over $38,000 Following Fed Governor Chris Waller’s Inflation Remarks
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via