With Coinbase Ventures, Greylock Partners, and Sequoia Capital, the $40 million Series A fundraising for Nxyz, a Web3 platform that provides data infrastructure for blockchains, was spearheaded by venture capital company Paradigm. Balaji Srinivasan, Jayanti Kanani, Jing Wang, Packy McCormick, Surojit Chatterjee, and Ryan Selkis were the angel investors.
https://twitter.com/_n_x_y_z_/status/1580136531552915456

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 Fund to be Used in Faster Blockchain Indexing
The money obtained, according to Nxyz, will be used to grow the company's team, develop support for new use cases, and expand across chains. In the coming months, the company will expand its technical and relationship teams globally, onboarding several new blockchains. The Web3 platform offers more effective blockchain indexing and data architecture to empower developers, artists, and business owners to create a better online. The business claims that in less than 200 milliseconds, its blockchain API can deliver real-time blockchain data.

<h2>Crypto Wallets and NFT Tokens Initiatives</h2>
The platform, created by the distributed systems engineers behind Google and Neeva, functions by directly ingesting data from blockchains and the apps connected to them in real time, providing developers with an API suite to access blockchain data conveniently. The company claims that its infrastructure and throughput capabilities benefit from applications like crypto wallets and nonfungible token initiatives.
According to Sridhar Ramaswamy, CEO of Nxyz, the platform was developed so that developers could concentrate on building at scale while still having a simple and quick way to index the necessary data. This kind of innovation, in his opinion, is what the market needs to ensure success and broad acceptance.
Nxyz has accepted beta users since the platform's launch earlier this year and has executed more than 5 billion transactions across Ethereum, Polygon, Binance, Avalanche, Arbitrum, and Optimism. Web3-focused projects still raise a sizable amount of money despite the weak market. Investors and asset managers have also noticed the trend toward Web3 businesses and applications.

nxyz Raises $40M Series A, Led by Paradigm, to Enable Faster Blockchain Indexing

With Coinbase Ventures, Greylock Partners, and Sequoia Capital, the $40 million Series A fundraising for Nxyz, a Web3 platform was spearheaded by venture capital company Paradigm.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

nxyz Raises $40M Series A, Led by Paradigm, to Enable Faster Blockchain Indexing

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