TLDR:
- Blockless, a DePIN project, has raised $8 million in pre-seed and seed funding rounds.
- The project aims to provide computing power support through its network using a decentralized physical infrastructure.
Summary:
Blockless, a decentralized physical infrastructure network (DePIN) project, has secured a total of $8 million in funding through pre-seed and seed rounds. The pre-seed round, led by NGC Ventures with a $3 million investment, was closed in March 2022. The seed round, which amounted to $5 million, was co-led by M31 Capital and Frachtis. Other investors included No Limit Holdings, MH Ventures, Interop Ventures, and Plassa Capital. The project plans to launch its testnet in the near future, with the mainnet and native token, BLESS, set to launch in the third quarter of the year. Blockless uses a WebAssembly (WASM) application framework to enable users to provide computing power to applications automatically without the need to run specific nodes or download additional software. The project’s core team, based in Palo Alto, California, consists of ten members, with plans to expand in engineering, product, and ecosystem areas. Blockless faces competition from projects like io.net and Fluence Network in the decentralized infrastructure space.
