Web3.0 Wallet Secures Series A Funding, Reaching a $100 Million Valuation

Funding Overview

As the blockchain industry continues its rapid growth, a new cross-chain Web3.0 wallet has recently completed a $15 million Series A funding round, pushing the company's valuation to $100 million. This milestone marks a pivotal step in the evolution of blockchain wallet ecosystems, especially within Asia.

Having navigated the full cycle of the blockchain industry, this wallet platform has emerged as a market leader in Asia in terms of user base, revenue, and overall valuation. Its success underscores the growing demand for secure, efficient, and intuitive Web3.0 wallet solutions amid a thriving global crypto ecosystem.

This Series A round was led by Dragonfly Capital, with additional backing from major investors including KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital. The participation of these institutional investors reflects strong confidence in the long-term growth prospects of the Web3.0 wallet platform.

Lead Investor Perspective

Mia of Dragonfly Capital, the lead investor for this round, offered a detailed look at the drivers behind their investment. She highlighted that the wallet platform has displayed exceptional resilience, successfully weathering the entire blockchain industry cycle while sustaining rapid growth.

The platform team has cultivated deep expertise in crypto wallet technology through ongoing product and feature iterations. They have effectively connected users with a vibrant cross-chain DApp ecosystem, delivering substantial added value to the user community. With a robust product in place, the next objective is to expand its reach to a broader global user base and establish itself among the leading Web3.0 gateways.

Dragonfly Capital expressed pride in serving as the lead investor in this Series A round. This investment represents their second major foray into wallet companies, following a previous investment in Consensys, the parent company of MetaMask. It is also their largest investment in the sector to date, demonstrating their strong commitment to advancing Web3.0 alongside the wallet platform team.

Future Development Vision

Kevin, founder of the wallet platform, reflected on four years of entrepreneurship in a series of tweets, expressing gratitude to both the team and dedicated users who have supported the project from the beginning. This attitude exemplifies a user-centered development philosophy and strong team collaboration.

Kevin stated that following the completion of Series A funding, the company will enter “a new development phase with a cross-chain DAO at its core.” This innovative approach aims to break down the traditional triangle of shareholders, companies, and employees, empowering each individual wallet user to become an owner within the cross-chain ecosystem.

By exploring new models of collaboration, all stakeholders will jointly build the platform into a comprehensive cross-chain and cross-layer Web3.0 protocol. The long-term vision is to establish it as fundamental infrastructure and a driving force for the Metaverse, enabling seamless interoperability across multiple blockchains and decentralized applications.

This cross-chain DAO model is poised to create a more democratic and inclusive ecosystem, giving every user a voice in the platform’s development and the opportunity to share equitably in its generated value. This approach aligns with the decentralization principles of Web3.0 and may set a new standard for blockchain platform governance in the future.

FAQ

What is a Web3.0 Wallet and what are its main features?

A Web3.0 wallet is a crypto wallet offering enterprise-grade security, with dual authentication, KYC and AML compliance, end-to-end encryption, and comprehensive data protection for secure transactions.

What is the difference between a Web3.0 wallet and a traditional crypto wallet?

Web3.0 wallets are decentralized, giving users complete control over their private keys without third-party reliance. Traditional wallets depend on external platforms. Web3.0 provides stronger security and direct financial autonomy.

What does it mean for a Web3.0 Wallet to complete a $100 million Series A funding round?

The $100 million Series A funding cements the Web3.0 Wallet’s position in the Web3 ecosystem, providing robust support for expansion. These funds will accelerate innovation, cross-chain DAO development, and global market growth for long-term success.

How can you safely use a Web3.0 wallet to manage digital assets?

Always use a trusted wallet, keep your private keys secure, and back up your recovery phrase in a safe location. Never share sensitive information with anyone.

Which blockchain networks and tokens does the Web3.0 Wallet support?

The Web3.0 Wallet supports ERC-20 tokens and multiple blockchain networks, including Ethereum. It is also compatible with NFTs and DeFi applications for a comprehensive Web3 experience.

What security risks do Web3.0 wallets face, and how can they be addressed?

Web3.0 wallets are exposed to risks such as counterfeit wallets, supply chain attacks, trojan viruses, and wallet vulnerabilities. To address these risks, download wallets only from official sources, use security software, and verify the wallet’s open-source code.