Solana Foundation, Polygon Lead $30M Fundraise for Web3 Firm Cosmic Wire

The startup offers metaverse creation tools and a list of general blockchain infrastructure solutions.

AccessTimeIconJul 19, 2023 at 5:02 p.m. UTC

Cosmic Wire, a Web3 startup offering a wide range of infrastructure products, has raised $30 million in a seed funding round led by the Solana Foundation, the non-profit firm dedicated to spreading adoption of the Solana ecosystem, and Polygon.

The crypto-related offerings from Miami-based Cosmic Wire include world-building 3D architecture tools and artificial intelligence-backed avatars for metaverse creation. The startup also offers a number of blockchain solutions, including analytics, digital identity management, smart contract development tools and chain-agnostic marketplaces, according to a product list provided to CoinDesk by a Cosmic Wire representative.

  • Kamala Harris Meme Coin Soars as Biden Drops Out; India’s Tax Policy Unlikely to Change
    01:54
    Kamala Harris Meme Coin Soars as Biden Drops Out; India’s Tax Policy Unlikely to Change
  • HNT Token Scores 40% Gains on Growing Adoption of Helium Mobile
    00:50
    HNT Token Scores 40% Gains on Growing Adoption of Helium Mobile
  • Tokens on WazirX Trade at Discount; Italy's Top Banks Complete Digital Bond Issuance on Polygon
    01:45
    Tokens on WazirX Trade at Discount; Italy's Top Banks Complete Digital Bond Issuance on Polygon
  • Profit-Making Crypto Address Makes New Investment of $16M in BTC
    00:59
    Profit-Making Crypto Address Makes New Investment of $16M in BTC
  • "We are very excited for Cosmic Wire's Web3 infrastructure to be built on the Solana network," said Johnny Lee, general manager of games, entertainment, and media at Solana Foundation, in a press release. "Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs [content delivery networks], payment solutions and avatar UGC [user generated content] all integrated,” Lee added.

    Cosmic Wire has also been selected as participant in Google Cloud's Web3 startup program, which aims to provides support for startups and emerging projects, including Web3 industry, to scale their projects faster and more securely. The program will help Cosmic Wire to gain "exclusive access to customized resources, including a substantial allocation of Google Cloud credits for a two-year period, unparalleled entry into Google's Web3 ecosystem, and a range of complimentary benefits."

    Edited by Aoyon Ashraf.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.