Coinbase Ventures Joins The Strategic Round Of Astar Network
Coinbase Ventures joins the Strategic round of Astar Network along with Binance Labs, Crypto.com Capital, Polychain, and Dr. Gavin Wood among other key firms that have already invested $22M.
Astar Network is a dApp Hub on Polkadot that supports Ethereum Virtual Machine and WebAssembly to unlock Web3 for Web2 developers. Astar Network is one of the top three projects to win a Polkadot Parachain slot last December and launched its mainnet on January 17th, after two and a half years of development. Astar has raised $33M to date with participation from Polychain, Binance Labs, Alameda Research, Huobi Ventures, OKX Ventures, Crypto.com Capital, Alchemy Ventures, Digital Finance Group, Scytale Ventures, Dr. Gavin Wood, and other industry-leading investors. Astar now enters into the next exciting phase of growth with this follow-up investment round from Coinbase Ventures.
Next Steps
Astar has achieved huge growth as the whole ecosystem since its launch, but this is just the beginning. A number of projects are expected to be launched in a couple of months, with more integrations. The team strongly believes in the multichain future and Web3. Astar is going to be a multichain smart contract hub by connecting multiple L1 chains and supporting multiple smart contract virtual machines.
About Astar
Astar Network is a dApp hub on Polkadot that supports Ethereum Virtual Machine and WebAssembly to unlock Web3 for Web2 developers. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines, as Polkadot Relay Chain doesn’t natively support smart contracts. That’s why it’s important for the Polkadot ecosystem to have a parachain that enables EVM support for all developers who want to build in the Polkadot ecosystem. Astar is here to provide the most accessible solution for all developers by supporting EVM and making a parachain where EVM and WASM smart contracts can co-exist and communicate with each other.
