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Polybase Raises $2 Million for Web3 Replacement

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It is reported that Polybase, a cryptocurrency start-up, announced that it had raised $2 million in pre-seed financing. This round of financing is led by 6th M…

Polybase Raises $2 Million for Web3 Replacement

It is reported that Polybase, a cryptocurrency start-up, announced that it had raised $2 million in pre-seed financing. This round of financing is led by 6th Man Ventures, with the participation of Filecoin developers Protocol Labs, Orange DAO, Alumni Ventures, NGC Ventures, CMT Digital, etc. The goal of this startup is to build a web3 replacement to replace traditional platforms, such as Google’s Firebase and open source databases, such as Supabase and Postgres.

Encryption startup Polybase completed $2 million pre-seed financing

Interpretation of the news:


Polybase, a cryptocurrency start-up, has announced that it has raised $2 million in pre-seed financing. This round of financing was led by 6th Man Ventures, and it had the participation of well-known companies such as Protocol Labs, Orange DAO, Alumni Ventures, NGC Ventures, and CMT Digital.

The main goal of this start-up is to provide a web3 replacement to traditional platforms such as Google’s Firebase and open-source databases such as Supabase and Postgres. Web3 refers to a decentralized web, meaning that decentralization is at the core of Polybase’s mission.

The rise of cryptocurrency has played a significant role in the development of web3. Cryptocurrencies, such as Bitcoin and Ethereum, utilize blockchain technology, which is a decentralized ledger that allows for secure and transparent transactions. Polybase aims to apply the same principles to the traditional web platforms we use today.

With the goal of replacing traditional platforms, Polybase is set to pave the path towards a future where web3 is the norm. Its decentralized approach offers a higher level of security and transparency, which is increasingly important as cybercrimes continue to pose a threat to traditional web platforms.

The participation of well-known companies, such as Protocol Labs, Orange DAO, Alumni Ventures, NGC Ventures, and CMT Digital, is a promising sign for Polybase. These companies are known for their support of revolutionary technologies, and their collaboration with Polybase is indicative of its potential.

In conclusion, Polybase’s $2 million pre-seed financing announcement marks a significant milestone in the development of web3. With its decentralized approach to web platform development, the start-up is set to revolutionize the way we access and interact with the internet.

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