**Title: Ethereum Layer-2 Blockchain LightLink Secures $6.2 Million in Funding During Extended Seed Round**
**Subheading: Institutional and Individual Investors Show Strong Interest in LightLink’s Vision for Web3 Ecosystem**
In a recent development, Ethereum layer-2 blockchain LightLink has successfully secured $6.2 million in funding during an extended seed round. The funding round saw participation from both institutional and individual investors, showcasing strong interest in LightLink’s innovative approach to blockchain technology.
The company announced on social media that no further rounds are planned at the moment, indicating a focused effort to partner with the right long-term backers. Due to high demand from investors, LightLink extended the seed round and received an additional $1.7 million in the process.
LightLink plans to utilize this influx of capital to support its vision of a web3 ecosystem accessible to millions while advancing proprietary technologies for gasless transactions. Roy Hui, LightLink’s co-founder and CEO, expressed enthusiasm about the investment, emphasizing the company’s commitment to practical blockchain solutions.
The successful seed round saw participation from prominent venture capital firms such as MH Ventures and NxGen, as well as contributions from individual crypto investors like Eric Cryptoman and Satoshi Stacker. LightLink currently records about 115,000 daily transactions and has a strategic alliance with Animoca Brands.
One of LightLink’s upcoming initiatives includes the launch of its LL token, backed by a liquidity bootstrapping pool. This move aims to ensure equitable distribution and efficient price discovery within the LightLink ecosystem, enabling instant, gasless transactions for dapps and enterprises.
The funding success of LightLink comes amidst a renewed interest in the crypto space, with venture capital funding in crypto projects surging by 38% since Q4 2023. Data from Crypto Koryo indicates a significant increase in both total investments and the number of projects receiving VC funding, pointing towards a positive outlook for continued growth and innovation in the crypto industry.
