Arcanum Capital Participates in 0G Labs’ Pre-Seed Round Alongside Key Web3 Investors

Funding will support the creation of high data, on-chain applications in the Web3 ecosystem.

NEW YORK, NY, USA, July 26, 2024 /EINPresswire.com/ -- Arcanum Capital is thrilled to announce its participation with Luganodes in 0G Labs’ $35M Pre-Seed round alongside Delphi Ventures, Animoca Brands, OKX Ventures, Hack VC, Foresight Ventures and many more notable investors. 0G Labs is a Web3 infrastructure provider known for building the modular AI blockchain.

“We see a sizable market opportunity in modular blockchain layers with the data throughput capacity needed to support AI and gaming on-chain,” said Arcanum Capital co-founder and managing partner, James McDowall. “Blockchain technology offers a more transparent, trustworthy, secure, and accessible framework for AI. However, current blockchain data throughput and latency speeds are too slow to fully implement AI and gaming applications on-chain.”

0G Labs aims to greatly outperform the data throughput capabilities of competitors via a combination of technologies, architectural decisions, and optimizations that are specifically designed to maximize data throughput. This pre-seed funding will support the company’s efforts to bring high data use cases, such as scalable L2s and modular AI, into the Web3 ecosystem.

“The current limitations of existing blockchain technology represent a significant bottleneck to the development of Web3,” said Michael Heinrich, co-founder & CEO of 0G Labs. “By optimizing the underlying infrastructure to improve data throughput, we have an opportunity to extend the reach and impact of what’s possible on-chain in ways never before possible. We look forward to working with Arcanum Capital and all of our investor partners as we progress toward this goal.”

Learn more about 0G Labs at its project website: https://0g.ai

About Arcanum Capital

Arcanum Capital is a venture capital firm focused on supporting enterprising and forward-thinking teams that are establishing decentralized networks and applications for the global blockchain ecosystem. Arcanum Capital's team consists of experienced investment professionals who understand what it takes to evaluate, incubate and scale promising teams and ideas. We have been on the ground as operators, investors, and incubators in frontier and emerging markets, including India, since 2013, and have worked with startups, decentralized networks, and publicly listed companies. During this time, we have cultivated powerful networks and partnerships that are invaluable in helping our portfolio entities transition from idea to market and scale on the global stage.

About Luganodes

Luganodes is a AAA rated institutional-grade staking service provider and one of the top leaders in staking volume. Globally, Luganodes’s client base stakes digital assets across 40+ proof-of-stake networks with 99.99% uptime. It is one of the top validators on the Polygon network and the super representative on the Tron network. With Luganodes, enterprises and individuals can take part in validating blockchain transactions and earning staking rewards.

About 0G

0G, or ZeroGravity, is a leading Web3 infrastructure provider that is building the leading modular AI blockchain creating solutions to implement on-chain AI applications in the Web3 ecosystem. The platform achieves high data availability through its unique architecture separating data storage and data publishing. By ensuring throughputs of 50 GB/second, a full 50,000x faster than competitors, and a cost that is 100x lower, 0G has positioned itself as a leader in bringing high data use cases, such as scalable L2s and modular AI, into the Web3 ecosystem.

Tim Sprinkle
Arcanum Capital
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