Tencent has led a $15 million Series A funding round for Chainbase, a leading omnichain data network for web3. This funding round also saw participation from prominent investors, including Tencent Investment Group, Matrix Partners, and Hash Global.
Chainbase aims to revolutionise on-chain data infrastructure, making blockchain data more accessible and usable for developers. This will facilitate a variety of applications, including digital currencies and smart contracts, by providing an open and fair data network.
With the new investment, Chainbase plans to develop an advanced crypto world model that will enhance data intelligence on the blockchain and broaden AI capabilities across its applications. Currently, Chainbase supports 8,000 live projects and serves over 15,000 developers, handling more than 500 billion data calls.
Looking ahead, Chainbase expects to engage millions of developers and retail users. The company aims to create standardized tools for on-chain data development and machine learning, thereby setting new benchmarks in the industry.
Chris Feng, co-founder and COO of Chainbase, hailed the funding round as a “transformative milestone.” He highlighted that the investment would enable the development of “the first Crypto World Model.”
“We are in the process of building our mainnet – an innovative 4-layer dual consensus omnichain data network designed for the AI era. This structure ensures openness, permissionless access, transparency, security, and instantaneous data processing. We aim to launch the test net in August,” Feng stated.
Last year, Chainbase partnered with the Open Network (TON) Foundation and Tencent Cloud to enhance web3 adoption in the Asia-Pacific region. As part of this collaboration, Chainbase launched the first data indexing product on TON.
Chainbase also provides a high-speed, reliable enterprise node deployment service for the TON blockchain.
Earlier this year, Tencent joined China’s metaverse working group, an initiative by the Ministry of Industry and Information Technology (MIIT) aimed at establishing standards for the metaverse.
This significant investment from Tencent and other key players underscores the growing commitment to advancing blockchain technology and on-chain intelligence. As Chainbase continues to innovate and expand, it is set to play a crucial role in the evolution of web3 and blockchain applications.
