There are so many blockchain platforms for investors and now developers to focus on that at the moment, their biggest dad, from Ethereum to so-called “Ethereum Killers” like Solana, which we wrote about in May. Often, these technologies are seen as so promising that investors are willing to finance an ecosystem of products and projects built into their blockchain networks, not just blockchains.
On Wednesday, for example, Phantom, a digital wallet on the Solana blockchain network, led by Andresen Horowitz, announced $9 million in funding for the series (which raised a lot of money for Solana’s digital token in June). Similarly, a syndicate of investors is voting today for the three-year-old platform Teramform Labs, which originally created various so-called stabilising for e-commerce that, mimic the value of various Fiat currencies and have since expanded its offerings.
There is much more to shut down the platform, in fact, supporters, including Pantera Capital and Arrington XRP, have pledged to invest only $150 million in products associated with Terra’s ecosystem, a promise that will be in place for several years, the agency said. They should prove fruitful, encouraging the inherent growth of performing in a kind of virtuous circle. Why are they so excited about Terraform? The Singapore-based company is expanding rapidly, apparently reducing the settlement time of South Korean users with merchants by a few seconds a day, often without e-commerce customers knowing that their online (and sometimes offline) transactions involve a blockchain.
Investor Mike Arrington says it is doing so well, launching an e-commerce wallet called Want to Become Popular in Asia. It also introduced the Mirror Protocol, which creates fungal assets or “synthetics” that look for real-world asset prices. (Arrington XRP Mirror Leads First Round.)
Indeed, the market cap of Terform’s tokens – called their LUNA – skyrocketed from $300 million to $2.6 billion in January as excited buyers snatched them. Whether these proponents are moving forward on their own is an open question, but the company’s equity investors – including Coinbase Ventures and Galaxy Digital’s Mike Novogratz – are clearly betting that more will come.