Web3 Infrastructure Firm ChainSafe Raises $18.75 Million in Series a Funding

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• ChainSafe has closed an $18.75 million Series A funding round led by Round13 Capital.
• Using the funds, Chainsafe intends to continue creating tools and infrastructure that empower Web3 developers.
• Chainsafe specializes in Web3-oriented infrastructure, especially gaming. The flagship product of Chainsafe is web3.unity

ChainSafe, a blockchain research and development firm announced raising $18.75 million in a Series A funding round led by Round13 Capital.

1/ ChainSafe is excited to announce that we’ve raised $18.75m in an oversubscribed Series A.The additional funding will allow us to continue creating open-source infrastructure and tooling that empowers #web3 builders.https://t.co/Wzw8J2FJoH pic.twitter.com/UjlPrGePJN

— ChainSafe (@ChainSafeth) October 18, 2022

According to the announcement, other participants in the round included NGC ventures, HashKey Capital, Sfermion, JSquare, IOSGVC, DFG, ConsenSys, and Fenbushi. With these funds, Chainsafe plans to continue developing its open-source infrastructure and accelerate product development by building its team.

The firm appreciated all of its team members, supporters, partners, investors, collaborators, contributors, and the entire community who made it possible.

Web3 Ecosystem Advancement by ChainSafe

Chainsafe has become one of the leading research and development firms in the web3 sphere since its emergence in 2017. It focuses on Web3-oriented infrastructure, particularly gaming. Chainsafe’s flagship offering is web3.unity which helps to link games through the development engine Unity with blockchain technologies.

Through its numerous web3 open-source tooling, Chainsafe has cemented its place as a leader in the evolving web3 gaming industry. Recently, its subsidiary, Chainsafe Gaming, launched a new version of the web3.unity SDK, the base layer for blockchain-enabled games.

Additionally, it released the newest Ethereum consensus client, Lodestar. Developed in TypeScript, this consensus client makes Ethereum development accessible to a larger group of developers.

More so, ChainSafe remains a major contributor to “buidwithsygma, an interoperability layer for building cross-chain applications.”

Commenting on the recent development, Co-founder and CEO Aidan Hyman says the company was founded on the belief that decentralized technologies could revolutionize society.

“We’re forward to accelerating the growth of the web3 ecosystem. As time passed, the importance of our contributions has become increasingly clear,” Hyman concluded.

On the Flipside

• While Web3 games are currently buzzing around, they are plagued with multiple issues, such as long waiting periods, slow-paced games, high entry barriers, and skyrocketing transaction fees.

Why You Should Care

In terms of graphics, Unity’s game development engine is known for its high-quality, next-level effects. Due to this recent development, more gaming firms might be able to take advantage of the engine’s capabilities, resulting in improved Web3 games.

For more on developments in the GameFi sector, check out:

GameFi Sector Shows Signs of Growth: DappRadar

New Publisher Will Help Indie Developers Make Profitable Games on the Blockchain

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