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Solana Foundation Leads $30M Funding Round for Web3 Pioneer, Cosmic Wire

By: illustrious
July 20, 2023 3:52 PM EDT
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The decentralized world of Web3 continues to evolve, with promising startups leading the way. One such pioneer is Cosmic Wire, which recently closed a remarkable $30 million seed funding round. Spearheading this round was the Solana Foundation, known for its commitment to fostering the Solana ecosystem, joined by Polygon.

Based in Miami, Cosmic Wire stands out with its plethora of infrastructure products designed for the Web3 domain. Among its extensive suite of crypto-related offerings, the startup presents 3D architectural tools for world-building and AI-powered avatars tailored for metaverse creation. Additionally, they extend their services to encompass a diverse range of blockchain solutions. This includes tools and platforms for analytics, digital identity management, smart contract development, and chain-agnostic marketplaces, as confirmed by a Cosmic Wire representative to CoinDesk.

A palpable excitement bubbles within the Solana Foundation about this partnership. Johnny Lee, the General Manager of Games, Entertainment, and Media at Solana Foundation, expressed this sentiment in a press release. "We are very excited for Cosmic Wire's Web3 infrastructure to be built on the Solana network," Lee stated. He extolled the virtues of Cosmic Wire's metaverse SDK solutions, emphasizing their ability to "significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences." Lee further highlighted the holistic nature of these solutions, mentioning their integration of e-commerce platforms for both physical and web3 digital products, content CDNs, payment gateways, and avatar UGC.

In a testament to its rising stature, Cosmic Wire has also caught the attention of tech giant Google. The startup has earned a coveted spot in Google Cloud's Web3 startup program. This initiative is designed to bolster startups and nascent projects within the Web3 space, facilitating faster and more secure scaling of their ventures. Through this program, Cosmic Wire is set to enjoy exclusive perks. Not only will they receive a generous allocation of Google Cloud credits spread over two years, but they will also benefit from a unique gateway into Google's Web3 ecosystem, complemented by an array of additional advantages.

In conclusion, the remarkable growth and the trust placed in Cosmic Wire by industry leaders like the Solana Foundation and Google signify the startup's potential. As the Web3 realm expands, collaborations like these pave the way for an interconnected, decentralized future.

Always experimenting.

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