Cross-chain web3 startup Cosmic Wire raises $30M

For a while, it seemed like picking a blockchain network was like supporting a baseball team. You probably forgot how you ended up being their fan, but you are in too deep to change your allegiance.

But that might be changing now, thanks to Miami startup Cosmic Wire. As the crypto winter begins to thaw, the startup is working to develop cross-chain web3 solutions.

This week, Cosmic Wire announced that they have raised a $30 million seed round from lead investors Solana Foundation and Polygon. The startup is developing a series of blockchain infrastructure products. According to Coindesk, this includes solutions for analytics, digital identity management, smart contract development tools, and chain-agnostic marketplaces.

Why does the cross-chain nature of Cosmic Wire matter? Because this approach facilitates data transfer interoperability across different blockchains. And Cosmic Wire hopes to do so without compromising privacy. Much to the contrary, the company reports that they hope to provide users with sovereign control over their data and online interactions.
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“We are very excited for Cosmic Wire’s Web3 infrastructure to be built on the Solana network,” commented Johnny Lee, general manager of Games, Entertainment, and Media at the Solana Foundation, the non-profit promoting the adoption of the Solana ecosystem.

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