Meson Network Raises $3.5M for Bandwidth Marketplace
The funding round was co-led by Libertus, Mask Network, and Hash Global.
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Another crypto project closes a successful funding round.
Meson Network Completes Raise
Meson Network, a project focussed on building an efficient bandwidth marketplace for Web3, has raised $3.5 million in a funding round.
The round was co-led by Libertus, Mask Network, and Hash Global, while other participants included Digital Currency Group, Youbi Capital, Hashkey, Zonff, SevenX, Permanent Ventures, CMT Digital, Rarestone Capital, DHVC, and Sanctor Capital. LayerX will also help the project with growing market influence and adoption. Josh Hannah, Sam Williams, Thomas Bailey, Jack Herrick, Cecilia Li, and Meltem Demirors also contributed to the round.
Meson Network is aiming to connect users to bandwidth through its marketplace, acting as a source of computing power for storage layer projects like IPFS and Arweave. It’s hoping to give users a way to monetize their spare bandwidth through its open marketplace.
Sherlock Shi, CEO of Meson Network, said of the funding round:
“Uniswap has demonstrated the power of enabling long-tail assets. We are also in the market of serving long-tail assets and their markets. We aim to become the world’s biggest marketplace in bandwidth.”
The crypto space has seen numerous funding rounds in recent months, with projects like Solana raising $314 million in a private token sale. Although it hasn’t been revealed exactly how the $3.5 million sum will be used, Meson Network is currently running its Testnet-2.5. The press release also notes that the funds will be used “to build [a] bandwidth marketplace on Web3.”
Disclosure: At the time of writing, the author of this feature had exposure to UNI in a cryptocurrency index. Some founders of Sanctor Capital were part of the Crypto Briefing team and hold equity in the company.