Ceramic Secures $30M Investment Funds From Series A Funding Round
3Box Labs, core developers of Ceramic, has raised a $30,000,000 Series A co-led by Multicoin Capital and Union Square Ventures to accelerate development of Ceramic and unlock data composability in the Web3 ecosystem. Ceramic’s decentralized data network makes it easy for developers to build powerful applications on top of an open ecosystem of composable data.
The Composable Web3 Data Network
Decentralized networks provide alternative incentive structures that allow data to be unbundled from applications. However, not all networks are equal. Ethereum, Solana, and similar blockchains decentralize state for financial use cases like tokens and NFTs. Because they’re made for finance, they aren’t designed to support the scale and transaction volumes required by non-financial use cases for data. Most Web3 developers building dapps today use a blockchain as their financial backend, but store application data and other user-generated content on a centralized database, drastically limiting the types of applications that can be built on Web3.
This is why we created Ceramic, a decentralized network for composable Web3 data. The network consists of three core components:
- Scalable, decentralized data infrastructure
- Open APIs for storing, modifying, and retrieving data
- Community-created marketplace of reusable data models
With this design, Ceramic makes it possible for developers to build applications by on a global network of composable data. For example on Ceramic, Twitter-like apps would run on a few shared data models: one for each user’s tweets, one for their social graph, and one for their DMs. By simply adopting the same data models, applications automatically share data and developers no longer need to worry about bootstrapping their database from scratch.
Ceramic’s community-driven approach to creating and sharing data models provides developers with a rich set of standards and tools to use when building their apps. Today there are thousands of developers who’ve already built over 400 applications on Ceramic. As more data models are created by the community, the variety of use cases for Ceramic will continue to expand, creating compounding innovation across applications in Web3.
This $30M Series A funding round gives Ceramic the opportunity to welcome some of the brightest minds in Web3 to the Ceramic community.
ABOUT Ceramic
Ceramic is a decentralized data network that brings unlimited data composability to Web3 applications.
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