What to know:
- Plume raised $20 million in a series A venture funding with Brevan Howard, Haun and Galaxy investing.
- The team said it plans to use the funds to speed up development of its layer 1 blockchain, eyeing mainnet launch in early 2025.
- Tokenized real-world assets are a quickly growing sector in the digital asset economy that could grow to trillions of dollars in this decade, according to various analyst forecasts.
As a seasoned researcher with a keen eye for emerging trends in the digital asset economy, I find the recent Series A funding round of $20 million for Plume, a blockchain network focused on real-world assets, quite intriguing. Having closely observed the burgeoning sector of tokenized real-world assets, I am not surprised by this investment, given the potential trillions of dollars market forecasted for this decade.
In a recent Series A funding round, Plume – a blockchain network specializing in real-world assets – successfully secured $20 million, as confirmed to CoinDesk on Wednesday.
Participating investors in the funding round were Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscrypt, Hashkey, Nomura’s digital asset arm Laser Digital, A Capital, 280 Capital, SV Angel, Reciprocal Ventures, and others. This new investment round was a follow-up to the $10 million seed funding round led by Haun Ventures in May.
As a part of our strategic plan, I am eagerly looking forward to accelerating the development process of our in-house Layer 1 blockchain. According to our recent announcement, we aim to unveil Plume’s mainnet by the beginning of the next year.
Plume strives to simplify the process of acquiring and investing in traditional financial instruments, including tokenized real-world assets (RWA), using its tokenization engine on a blockchain infrastructure. Additionally, it is working on creating an Ethereum Virtual Machine (EVM)-compatible blockchain platform where users can trade these assets. Real-world assets, or RWAs, represent a rapidly expanding category of digital assets. Experts predict that this market will expand exponentially over the next decade, potentially reaching multiple trillions of dollars as more crypto companies and major financial institutions tokenize assets such as bonds, commodities, and real estate on blockchains.
According to Plume, they have incorporated approximately $4 billion in assets into their system, encompassing private credit funds, renewable energy financing, and mineral rights. Furthermore, this platform has made it possible for unique investments like graphics processing units (GPU) and carbon credits, usually hard to access for ordinary investors, available on the platform. This observation was made by Will Nuelle, a general partner at Galaxy Ventures, one of Plume’s backers.
As an analyst, I’d rephrase Chris Yin’s statement like this: “Historically, the necessary infrastructure for Real-World Assets (RWAs) to be integrated onto blockchain platforms has been lacking. However, with our technology and ecosystem, we provide a seamless connection for these assets directly into our community, marketplace, and liquidity pools, ensuring an open, decentralized, and flexible environment.
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2024-12-18 16:50