Solana Foundation Leads $30M Funding Round for Cosmic Wire

• This successful funding round serves as a reaffirmation of Cosmic Wire’s unwavering dedication to connecting creators, businesses, and industries globally.

• According to the Solana price prediction, SOL cryptocurrency has positive momentum, indicating a potential surge toward the $40 mark on the charts.

In a seed funding round that secured $30 million, Cosmic Wire, a Web3 startup renowned for its diverse range of infrastructure products, gained backing from the Solana Foundation and Polygon. The Solana Foundation, a non-profit organization committed to promoting the widespread adoption of the Solana ecosystem, and Polygon were the key players in leading the funding efforts.

Based in Miami, Cosmic Wire specializes in crypto-related services, presenting a broad spectrum of offerings for the metaverse. Among these offerings are cutting-edge 3D architecture tools, tailor-made for world-building, and state-of-the-art avatars powered by artificial intelligence to facilitate metaverse creation.

The raised funds will be dedicated to further advancing Cosmic Wire’s decentralized applications, which form the foundational operating system for the Web3 ecosystem. The company’s notable focus is facilitating seamless data transfer and interoperability across different blockchains, achieved through innovative cross-chain technology.

With a strong emphasis on privacy and empowering users, Cosmic Wire intends to utilize the investment to expedite the development of a more decentralized, transparent, and secure digital Web3 environment. The ultimate ambition is to give users complete sovereignty over their data and online interactions.

This successful funding round serves as a reaffirmation of Cosmic Wire’s unwavering dedication to connecting creators, businesses, and industries globally. Their pioneering Web3 solutions aim to revolutionize internet communication and transactions, offering heightened efficiency and scalability for a transformative online experience.

Johnny Lee, the General Manager of Games, Entertainment, and Media at the Solana Foundation, expressed his enthusiasm regarding Cosmic Wire’s decision to construct their Web3 infrastructure on the Solana network.

He commended their metaverse SDK solutions, which streamline the development process for creating high-fidelity, 3D, browser-based metaverse experiences. Additionally, these solutions incorporate integrated e-commerce, content CDNs, payment systems, and user-generated avatars, effectively reducing development times.

Moreover, Cosmic Wire’s excellence has been recognized by its selection as a participant in Google Cloud’s forthcoming Web3 startup program. This acknowledgment further cements their position as leaders in the next generation of blockchain and immersive technology.

Cosmic Wire will gain exclusive access to tailor-made resources, substantial Google Cloud credits for two years, unparalleled entry into Google’s Web3 ecosystem, and various other complimentary benefits as part of the program.

Cosmic Wire’s platform-agnostic, scalable, and interoperable blockchain technology is set to revolutionize integration and collaboration across the internet, presenting a compelling challenge to the centralized content creation and exchange prevalent in Web2.

Under the leadership of Founder and CEO Jerad Finck, Cosmic Wire boasts an accomplished team that has developed cutting-edge solutions specifically designed to cater to the dynamic requirements of the Web3 environment.

Solana Price Analysis

According to the Solana price prediction, SOL cryptocurrency has positive momentum, indicating a potential surge toward the $40 mark on the charts. However, currently, SOL is facing resistance near the $30.00 level on the daily timeframe chart. To achieve a breakout, buyers must step in to increase the price.

Despite registering a breakout on July 14th, Solana couldn’t sustain its position and slipped below the neckline. Nevertheless, there is still a chance for the price to surge if buyers actively participate in the intraday trading session.

Buyers must engage in the trade during the intraday session to witness a surge in SOL crypto. As of now, the price of Solana stands at $26.82, showing a 2.29 percent increase in market capitalization during the day’s trading.

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