Web3 infrastructure startup ThirdFi secures $2m in token funding backed by Chainlink

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As a researcher with a background in blockchain technology and decentralized finance (DeFi), I’m excited to share my perspective on ThirdFi’s recent $2 million token funding round. This Singapore-based web3 infrastructure startup is making waves in the industry by providing more accessible decentralized finance solutions via API, and their latest investment will help them scale operations in anticipation of the growing blockchain AI market.

ThirdFi, a startup specializing in decentralized web3 infrastructure, has secured $2 million in financing through the sale of tokens. This round was supported by investors including Chainlink and Techstars, among others.

ThirdFi, a web3 infrastructure company specializing in making decentralized finance more accessible through APIs, has raised $2 million using its THI token for expanding its business operations in preparation for the anticipated growth of the blockchain artificial intelligence (AI) market, estimated to reach a staggering $2.7 billion by 2031.

In a blog post published on a Wednesday, the Singaporean startup ThirdFi revealed that it had secured funding from a number of investors, which includes Techstars, Chainlink, Outlier Ventures, Alphabit Capital, and others. This new injection of capital has significantly increased ThirdFi’s valuation to $20 million, following two years of development during the bear market.

I’m an analyst at your service. In 2022, ThirdFi came into existence and has since grown its user base to over 170,000 strong. With our collaborations in place with more than 50 web3 communities and protocols, we’ve managed to process transactions totaling over $46 million on both the mainnet and layer-2 networks.

Chainlink’s investment in ThirdFi signifies their ongoing commitment to the project, as ThirdFi is a participant in Chainlink’s BUILD program. This initiative offers priority technical assistance and exclusive access to new services for its members, ultimately strengthening the Chainlink network by promoting cryptoeconomic security through incentivized fees for Chainlink service providers.

ThirdFi provides API solutions for various blockchain networks besides Chainlink, such as Ethereum, Polygon, BNB Chain, Avalanche, Arbitrum, and Optimism. The company intends to add Solana, zkSync, and Base to its list in the upcoming period. Although no definite date has been announced for the token debut, it may occur around Q3 following necessary audits.

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2024-07-10 15:39