Ethereum Expansion Project Scroll Raises $50 Million in Latest Funding Round

03/06/2023 15:45 • Metaverse Matters • 131 views

It is reported that the Ethereum expansion project Scroll announced that it had raised $50 million in a new round of financing. Investors in this round of financing include Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Capital. According to people familiar with the matter, this round of financing makes Scroll’s valuation reach $1.8 billion.

Ethereum expansion project Scroll completed financing of US $50 million

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Ethereum is one of the most innovative blockchain projects in the world, and its expansion project Scroll is making waves once again. Recently, Scroll has announced that it has raised $50 million in a new round of financing, bringing the total amount of funds raised to $78 million. This new round of financing has been led by Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, and Qiming Venture Capital.

The Ethereum expansion project Scroll was created to provide a decentralized alternative to popular social media websites like Facebook and Twitter. It uses blockchain technology to ensure that user data is secure and private, and its revenue model is based on providing value to users instead of selling their data to advertisers. This has attracted a lot of attention from investors who are looking for innovative blockchain projects that have the potential to disrupt traditional industries.

According to sources familiar with the matter, the $50 million funding round has helped Scroll reach a valuation of $1.8 billion. This is a major milestone for the Ethereum expansion project, and it reflects the growing interest in decentralized social media platforms. While platforms like Facebook and Twitter continue to face scrutiny over their handling of user data, decentralized platforms like Scroll offer a more secure and transparent alternative.

Overall, the latest funding round for the Ethereum expansion project Scroll is a significant development in the world of blockchain and social media. With the support of major investors and a valuation of $1.8 billion, Scroll is poised for success in the years to come. As more people become aware of the benefits of decentralized social media platforms, the demand for innovative blockchain projects like Scroll is only going to grow. It will be interesting to see how this project evolves and how it impacts the world of social media in the future.

In conclusion, the Ethereum expansion project Scroll’s recent fundraising success confirms that blockchain is disrupting social media as well. With the support of numerous investors, the project is looking to give Facebook and Twitter a run for their money by prioritizing user privacy and security. This is a sign of good things to come in the blockchain world as more projects step up to provide a decentralized alternative to traditional, centralized systems.

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Ethereum Expansion Project Scroll Raises $50 Million in Latest Funding Round

Ethereum expansion project Scroll completed financing of US $50 million

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