In a significant move towards enhancing Web3 infrastructure, Entangle has announced a notable strategic investment from blockchain incubator Consensys. This investment propels Entangle’s total funding to an impressive $4 million, signaling strong support for the future of decentralized technologies.
Earlier this year, Entangle caught the eye of several leading venture capital firms, concluding a private funding round with contributions from Big Brain Holdings, Launch Code Capital, Seier Capital, and Skynet Capital. Consensys’ follow-on investment underscores its commitment to fostering innovative solutions within the blockchain ecosystem.
The funding is part of Consensys’ Linea Ecosystem Alliance initiative, which aims to bolster the growth of the blockchain landscape. This alliance has garnered support from a range of venture capital firms including Amber, Animoca Brands, Blocktower, Electric Capital, ParaFi, and Lemniscap, highlighting the broad industry backing for innovative Web3 projects.
Entangle is at the forefront of developing advanced solutions such as its interoperable omnichain messaging and liquidity infrastructure. With projects like Linea leveraging Entangle’s capabilities, there’s a concerted effort to enhance the integration of various products including Photon Messaging, Universal Data Feeds, and the pioneering Liquid Vaults.
Setting New Standards for Web3 Infrastructure
The imminent launch of Entangle’s mainnet is set to revolutionize the Web3 space. The platform’s testnet has already seen significant engagement, with 250,000 users completing over 1.5 million transactions. This robust testing phase ensures that Entangle is well-prepared to support a wide array of interoperable applications, facilitating seamless liquidity and data transfer across multiple blockchains.
Entangle’s cutting-edge messaging protocol, Photon, bridges the gap between EVM and non-EVM chains, enabling a host of omnichain assets and trustless bridges. This is set to dramatically expand the possibilities within the DeFi, DePIN, GameFi, and RWAs sectors by providing high-frequency data feeds across different blockchains. Furthermore, Entangle’s Liquid Vaults feature is set to redefine capital efficiency in DeFi.
By automating the staking of LP tokens, users can obtain Composable Derivatives Tokens (CDTs) that mirror the staked value, enabling novel DeFi strategies. The project has announced over 75 integrations and partnerships, with more than 42 dApps already incorporated into its expansive ecosystem. This solidifies Entangle’s position as a key player in the omnichain data landscape, connecting an impressive 16 blockchains.
The recent launch of Entangle’s $NGL token has also made waves in the crypto market, with an impressive $57 million trading volume in the first 24 hours across platforms like Bybit, KuCoin, Gate, and MEXC. The sustained demand for $NGL highlights the market’s confidence in Entangle’s innovative solutions.
Entangle stands as the pioneering platform in customizable messaging infrastructure, setting a new standard for Web3 communication and ecosystem liquidity. With the backing of Consensys and the broader blockchain community, Entangle is poised to drive significant advancements in interoperable, secure, and efficient blockchain technology.