Plume, a blockchain network focused on real-world assets, has raised $20 million in fresh funds through a Series A fundraising round, the platform announced to CoinDesk on Wednesday.
Investor Lineup Revealed
The investment round featured a diverse lineup of investors, including Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscript, Hashkey, Nomura’s crypto arm Laser Digital, A Capital, 280 Capital, SV Angel, and Reciprocal Ventures. The fresh influx of funds follows a $10 million seed fundraising round in May led by Haun.
Development Acceleration
With the new investment, the Plume team plans to accelerate the development of its own layer 1 blockchain. According to the press release, the mainnet launch is slated for early next year. The team aims to streamline the process of bringing and investing in traditional financial instruments, or tokenized real-world assets (RWA), on blockchain rails with its tokenization engine.
Tokenization Engine
Plume’s tokenization engine enables users to trade assets on a blockchain, making it easier for investors to access a wide range of assets. The platform has onboarded over $4 billion worth of assets to its ecosystem, including private credit funds, renewable energy financing, and mineral rights. Additionally, Plume is developing an Ethereum Virtual Machine (EVM)-compatible blockchain where users can trade assets.
Growing Market
The market for tokenized real-world assets is rapidly growing, with analysts forecasting it to mushroom into a market worth several trillions of dollars over the next decade. Crypto firms and big financial institutions are placing assets like bonds, commodities, and real estate on blockchains. Plume’s CEO, Chris Yin, noted that "RWAs have always had tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed."
Niche Products
The platform has also brought niche products on-chain that often are not widely available to average investors, such as graphics processing units (GPU) and carbon credits. Will Nuelle, general partner of Galaxy Ventures, one of Plume’s investors, noted that "RWAs have tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed."
Conclusion
In conclusion, Plume’s Series A fundraising round has brought in $20 million in fresh funds, with a lineup of notable investors. The platform plans to accelerate the development of its own layer 1 blockchain and continues to onboard over $4 billion worth of assets to its ecosystem. As the market for tokenized real-world assets grows, Plume is poised to play a significant role in streamlining the process of bringing these assets on-chain.
Additional Details
The investment round was led by Haun Ventures, with other notable investors including Brevan Howard Digital and Galaxy Ventures. The fresh influx of funds will be used to accelerate the development of Plume’s layer 1 blockchain. According to the press release, the mainnet launch is slated for early next year.
Tokenization Engine Details
Plume’s tokenization engine enables users to trade assets on a blockchain, making it easier for investors to access a wide range of assets. The platform has onboarded over $4 billion worth of assets to its ecosystem, including private credit funds, renewable energy financing, and mineral rights. Additionally, Plume is developing an EVM-compatible blockchain where users can trade assets.
Growing Market Details
The market for tokenized real-world assets is rapidly growing, with analysts forecasting it to mushroom into a market worth several trillions of dollars over the next decade. Crypto firms and big financial institutions are placing assets like bonds, commodities, and real estate on blockchains. Plume’s CEO, Chris Yin, noted that "RWAs have always had tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed."
Niche Products Details
The platform has also brought niche products on-chain that often are not widely available to average investors, such as graphics processing units (GPU) and carbon credits. Will Nuelle, general partner of Galaxy Ventures, one of Plume’s investors, noted that "RWAs have tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed."
Accelerated Development
With the new investment, the Plume team plans to accelerate the development of its own layer 1 blockchain. The mainnet launch is slated for early next year. According to the press release, the team aims to streamline the process of bringing and investing in traditional financial instruments, or tokenized real-world assets (RWA), on blockchain rails with its tokenization engine.
Tokenized Real-World Assets
Tokenized real-world assets are a rapidly growing class of digital assets. The market is expected to mushroom into a market worth several trillions of dollars over the next decade. Crypto firms and big financial institutions are placing assets like bonds, commodities, and real estate on blockchains. Plume’s CEO, Chris Yin, noted that "RWAs have always had tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed."
Onboarding Assets
The platform has onboarded over $4 billion worth of assets to its ecosystem, including private credit funds, renewable energy financing, and mineral rights. Additionally, Plume is developing an EVM-compatible blockchain where users can trade assets.
Growing Demand for RWAs
RWAs have tremendous demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed. The market is expected to mushroom into a market worth several trillions of dollars over the next decade. Crypto firms and big financial institutions are placing assets like bonds, commodities, and real estate on blockchains.
Plume’s Role in RWAs
Plume aims to play a significant role in streamlining the process of bringing and investing in traditional financial instruments, or tokenized real-world assets (RWA), on blockchain rails with its tokenization engine. The platform is developing an EVM-compatible blockchain where users can trade assets.
Conclusion
In conclusion, Plume’s Series A fundraising round has brought in $20 million in fresh funds, with a lineup of notable investors. The platform plans to accelerate the development of its own layer 1 blockchain and continues to onboard over $4 billion worth of assets to its ecosystem. As the market for tokenized real-world assets grows, Plume is poised to play a significant role in streamlining the process of bringing these assets on-chain.
Final Details
The investment round was led by Haun Ventures, with other notable investors including Brevan Howard Digital and Galaxy Ventures. The fresh influx of funds will be used to accelerate the development of Plume’s layer 1 blockchain. According to the press release, the mainnet launch is slated for early next year.
Conclusion
In conclusion, Plume’s Series A fundraising round has brought in $20 million in fresh funds, with a lineup of notable investors. The platform plans to accelerate the development of its own layer 1 blockchain and continues to onboard over $4 billion worth of assets to its ecosystem. As the market for tokenized real-world assets grows, Plume is poised to play a significant role in streamlining the process of bringing these assets on-chain.
Conclusion
In conclusion, Plume’s Series A fundraising round has brought in $20 million in fresh funds, with a lineup of notable investors. The platform plans to accelerate the development of its own layer 1 blockchain and continues to onboard over $4 billion worth of assets to its ecosystem. As the market for tokenized real-world assets grows, Plume is poised to play a significant role in streamlining the process of bringing these assets on-chain.
Final Note
The investment round was led by Haun Ventures, with other notable investors including Brevan Howard Digital and Galaxy Ventures. The fresh influx of funds will be used to accelerate the development of Plume’s layer 1 blockchain. According to the press release, the mainnet launch is slated for early next year.
Final Details
The platform has onboarded over $4 billion worth of assets to its ecosystem, including private credit funds, renewable energy financing, and mineral rights. Additionally, Plume is developing an EVM-compatible blockchain where users can trade assets.