Pocket Network Announces Closing of Its Strategic Private Sale to Accelerate Network Development & Global Expansion

PRESS RELEASE. Pocket Network exceeded $56,000,000 successful monthly revenues successful December placing it successful the Top Five gross shaper for blockchains globally surpassing galore good known chains.

Tampa Bay, Florida, U.S.A – 6th January 2022 – Pocket Network – an infrastructure middleware protocol that provides decentralized unreality computing and abundant bandwidth connected afloat nodes to different applications crossed 20 blockchains, including Ethereum, Polygon, Solana and Harmony has closed a strategical circular of $10 Million led by Republic Capital, RockTree Capital, Arrington Capital and C2 Ventures, arsenic good arsenic different notable participants specified arsenic Coinshares, Decentral Park Capital and Dominance Ventures.

Pocket Network has gone from tens of thousands of play relays astatine the commencement of 2021 to implicit 2 cardinal relays successful a azygous week successful December and is rapidly scaling arsenic request from L1s and dApps for its services increases. For the period of December, relays were 5.5 Billion compared to 89M 12 months earlier.

Since July, Pocket Network’s usage has much than doubled monthly, measured successful “relays” which are API calls processed by the protocol. Just this past week, it broke its mean regular grounds by serving 300M+ relays. The maturation successful web usage has resulted successful corresponding node maturation connected a web present served by implicit 18,000 nodes tally by hundreds of autarkic assemblage parties and providers.

With full web gross exceeding $56 Million successful the period of December, Pocket Network is already comparatively amongst the Top 5 gross producers for each blockchains and blockchain applications globally (source information from Token Terminal*), portion remaining comparatively nether the radar until now, including having revenues surpassing that of Solana, Elrond, Harmony, and astir DeFi protocols.

“Today successful blockchain, the valuation of a task is based connected its existent show and existent metrics. In Pocket Network, we person uncovered a gem that is scaling astatine warp velocity and its show is measurable onchain. Many exchanges and dApps are inactive reliant contiguous connected Web2 centralized unreality computing and hosting providers which tin origin costly outages erstwhile they spell down. RockTree believes Pocket Network is captious infrastructure for the Web3 revolution, that offers existent decentralization and changeless uptime for a multi-chain blockchain future. Just look astatine the onchain data” said Omer Ozden, CEO of RockTree Capital, a money and merchant slope focused connected projects astatine the nexus of Asia and North America. “I privation to adhd that it is Pocket’s precocious prime squad and enactment that has made it an casual prime for RockTree to beryllium their Asia spouse and invest.”

Building connected its already ample assemblage of thousands of node runners Pocket Network aims to standard into the trillions of relays per day, dispersed crossed hundreds of thousands of afloat nodes wrong the adjacent 5 years.

“We’re incredibly excited to enactment Pocket Network successful its ngo to incentivize L1 decentralization. We are believers successful galore antithetic ecosystems — including Terra, Algorand & Polkadot — and recognize the request for wide node organisation astatine the basal layer. Ultimately, POKT is captious to enhancing the semipermanent robustness and antifragility of the full crypto-ecosystem”, said Michael Arrington, Founder of Arrington Capital.

“Pocket Network’s market-based attack to infrastructure decently demonstrates however Web3-native services tin outcompete Web2 incumbents some successful economics and performance. For blockchain app developers and node runners alike, Pocket is simply a wide no-brainer.” added Alex Ye, Managing Director, of Republic Crypto.

“We announced earlier this twelvemonth the strategical concern with Rocktree Capital, who is helping pb the planetary acceleration of our beingness into each of the large blockchain markets. Today we are excited to denote the continued acceleration of this program done the strategical partnerships formed successful this merchantability with Republic, Arrington Capital and galore precocious interaction players providing worth to the full Pocket Network ecosystem.” – Michael O’Rourke, CEO of Pocket Network

Pocket Network is targeting expanding developer adoption and node sum done aggregate initiatives, including an extended multi-jurisdictional enlargement into the Asia-Pacific portion successful the coming year.

About Pocket Network

*Token Terminal volition people afloat gross information for Pocket Network connected January 5th

Pocket Network, a blockchain information ecosystem for Web3 applications, is simply a level built for applications that uses cost-efficient economics to coordinate and administer information astatine scale. It enables seamless and unafraid interactions betwixt blockchains and crossed applications. With Pocket, the usage of blockchains tin beryllium simply integrated into websites, mobile apps, IoT and more, giving developers the state to enactment blockchain enabled applications into the “pocket” of each mainstream consumer.

RockTree Capital, a merchant slope and money based successful China focused connected blockchain projects and mobile e-commerce companies, with offices successful Beijing, Shanghai, New York and Toronto. RockTree Capital invests into top-tier blockchain projects and accelerates their maturation successful Asia.

Arrington Capital is a integer plus absorption steadfast chiefly focused connected blockchain-based superior markets. The firm, founded successful 2017 by TechCrunch and CrunchBase laminitis Michael Arrington and TechCrunch CEO Heather Harde, has implicit $1 cardinal nether absorption and has invested successful hundreds of startups crossed the world.

Republic Capital is a starring concern level that provides entree to startup, existent estate, crypto, and gaming investments for some retail and accredited investors. Republic has facilitated implicit $700 cardinal successful investments by our planetary assemblage of implicit 1 cardinal members

C2 Ventures is simply a chain-agnostic task fund, focused connected empowering builders with superior arsenic good arsenic operational expertise to make and standard the adjacent procreation of starring Web3 and Metaverse applications.

For much information, visit: Pocket Network

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