Layer 2 startup LightLink has secured seed funding of $4.5 million in a round led by Thai media company T&B Media Global and property developer MQDC.
According to a statement, LightLink’s technology will help support a “multiverse project” called Translucia that “blends the virtual and real worlds” and will receive $300 million in funding from T&B Media Global MQDC.
“This is an ideal alignment driven by our shared goal of building an interconnected and user-friendly digital world that shares happiness in the world,” said Dr. Jwanwat Ahriyavraromp, founder of Translucia and CEO of T&B Media Global.
Other investors in the seed round included JellyC, Aweh Ventures, Blue7 and B3V, according to the statement.
Tuesday’s announcement follows LightLink’s recent partnership with Animoca Brands. According to the announcement, LightLink is “an Ethereum layer 2 blockchain that enables dApps and enterprises to provide users with instant, gas-free transactions.”
LightLink ranked in the top 10 during the rollup.
Pellar Technologies, which has built “more than 50 blockchain projects for leading enterprise-level businesses in the APAC region since 2017,” is responsible for developing LightLink. The startup is “in the top 10 by trading volume during rollups” and has “over 215,000 unique wallet addresses operating on-chain.”
“The funding we received focused on gasless transactions and making blockchain as intuitive as traditional web platforms,” Roy Hui, co-founder and CEO of LightLink, said in a statement.
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RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal, writing about Disney, Netflix, Warner Bros. and the creator economy, focusing primarily on technological disruption across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.