Bridge Network Private Funding Round
Today we are pleased to announce that Bridge Network recently raised $3.8M million with backing from FTX Ventures, MEXC Global, Master Ventures, GDA Capital, Blockfinex, Vulcan forged and other industry leaders. This round was conducted as a private token sale, at an average valuation of $29 million between its seed and private round.
The private token sale saw participation from a list of top tiered crypto investors including FTX Ventures, MEXC Global, Grit Capital, Master Ventures, GDA Capital, Crypto Oasis, GRIT Capital, Abed Group, Cypher Capital, Block Theory, Fork Ventures, TDeFi, Croc Capital, Vulcan Forged among other notable investors.
This raise will accelerate the development of Bridge Network to build a better cross-chain experience for the multichain world. Bridge Network is guided by a diverse team of software engineers, designers, and marketing experts all of which are crypto native. With a strong team and support from our strategic investors, partners and advisors, Bridge Network will lead the way in the cross chain space with a focus on security, scalability and user experience.
About Bridge Network
Bridge Network is building the first cross-chain super dApp to enable seamless transactions between blockchain ecosystems. The cross-chain protocol (CCP) aims to be a one-stop-shop for all major cross-chain activities by providing the tools a user might need to transact in the multichain world. The bridge tool kit is made up of 6 main tools; a NFT bridge, a token bridge, a cross-chain trading platform, cross-chain farming platform, a multi-chain explorer and a token wrapper for any existing token to go cross-chain. For ease of reference, each tool has been assigned a name. The goal of building a cross-chain hub is to provide a frictionless and trustless environment for users to transact without the hassle of switching between protocols to complete what should be simple transactions. Bridge Network introduces a unique experience to the multichain world with a scalable, secure and robust infrastructure to simplify the complexities behind moving cross-chain.
At Bridge we have built a platform that allows users to take full advantage of the crypto space and is amongst one of the first bridging infrastructure that enables any token issuers to go multichain. In layman terms, this means if an existing project launched their token or NFT on a blockchain like ethereum, but would prefer to make it available on avalanche, the token issuer can permissionless-ly add their token to the Bridge Network platform in under 1 minute for users to start bridging. Favour Uzoaru, Co-founder of Bridge Network noted, “ While this is simple in context, the ability for tokens to easily go multichain solves the builders’ delima. Builders can continue to develop their project on whichever blockchain they see fit, while having their assets lay on any blockchain that their user demands. I’m especially excited to see this in the game-fi space as games may opt to build on their own blockchains while users leverage the in-game assets out of its ecosystem to be more productive on other blockchains.”
Bridge Network’s mainnet is intended to launch in early Q2 2022 while their token launch is right around the corner. We would like to thank all of our backers and are looking forward to partnering with them to further advance the cross-chain space.
