Port3 Network, announced the completion of a new round of funding worth millions of dollars.

Dhruv Lakshya 16-08-2023 03:06:22

Port3 Network, a Web3 decentralized social data layer, announced the completion of a new round of funding worth millions of dollars. Following the seed round led by Jump Crypto and Kucoin Ventures, EMURGO, Adaverse, Gate Labs and other institutions participated in its second round of financing, with a total financing amount of $10 million. In addition, Port3 Network also received grants from top ecosystems such as Binance Labs, Mask Network, and Aptos Foundation.

Port3 is a social data gateway for Web3. They are developing a protocol to aggregate and standardize off-chain and on-chain data, creating a Social Data Layer that is accessible and powerful for all Web3 use cases. Their goal is to help users bridge the gap and accelerate the transition to Web3.

SoQuest is the key product of Port3 Network, is one of the most popular Web3 Quest platforms that help projects build Web3 communities and aggregate various project activities and information. Project teams can launch campaigns to attract user participation, and users can earn rewards while participating in these activities.

The new round of financing and grant funds will be used to promote its on-chain interactive automation language BQL (Blockchain Quest Language). BQL can realize various on-chain interaction workflows, and users can simply click to execute complex interactions such as transactions and arbitrage.

According to CoinCarp, Port3 Network completed a $3 million investment from Kucoin Ventures and other institutions in February this year.

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Dhruv Lakshya

Dhruv Lakshya is an investor and writer who is passionate about digital assets and the future of finance. He has a background in engineering and business, and he has been investing in crypto since 2017. He has written for various platforms, sharing his insights and analysis on the crypto market, trends, and opportunities. He is also an active member of the Indian crypto community, participating in events, meetups, and online forums. He believes that crypto can empower people and create positive social impact. He likes to play chess, read books, and meditate.