Web3 and Bitcoin application builder Trust Machines has successfully raised $150 million in funding. The funding will be used to expand and enhance the network’s technology for creating applications for Bitcoin and Web3. Investors such as Breyer Capital, Digital Currency Group, GoldenTree, Hivemind, and Union Square Ventures to name a few supported the funding.
Trust Machines aims to create a powerful Bitcoin ecosystem of transformational applications across many areas of finance, business, and society. In addition, the network also plans to build the largest ecosystem of Bitcoin applications and underlying platform technologies. Hence, it will expand Bitcoin to become a store of value and a platform for transformative Web3 applications.
Jim Breyer, founder and CEO of Breyer Capital and early Facebook (NASDAQ:FB) investor stated,
Trust Machines is co-founded by two Princeton computer scientists, Dr. Muneeb Ali and Professor J.P. Singh. Both of them seek to truly unlock the potential of Bitcoin for Web 3.0 applications, showing that building on Bitcoin is not only a viable, but a superior choice. Ali is the CEO of Trust Machines.
Matt Zhang, founder of Hivemind Capital Partners— the $1.5 billion crypto-focused investment firm— explained,
On the other hand, the network is working on the opportunity to turn trillion dollars of Bitcoin into a productive rather than passive asset. It will include features such as creating a programmatic demand for Bitcoin and the transformation of many areas of finance, business, and society. Additionally, it will provide a new model of interaction, transaction and value creation for all.
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Source: Cryptocurrency - investing.com
