Avail Secures $27M Funding to Address Web3 Fragmentation
Avail, originally launched by Polygon Labs, has raised $27 million to solve web3 fragmentation, with Founders Fund and Dragonfly leading the way.
Total Value Locked (TVL) in layer 2 rollups stands at $24.93 billion, with Arbitrum One representing over 50% of this value.
Accelerating the Unification of Web3
Originally launched by Polygon Labs in 2021 and now an independent project, Avail has closed a $27 million funding round led by Founders Fund and Dragonfly.
This funding, along with investments from SevenX, Figment, Nomad Capital, and other angel investors, aims to accelerate the unification of web3 by developing Avail’s three key products known as the Avail Trinity: the Data Availability (DA) layer, the Nexus unification layer, and the Fusion security layer.
Innovation and Interoperability in Web3
With its modular blockchain infrastructure, Avail is poised to significantly improve the interoperability of the web3 ecosystem, according to Joey Krug, a partner at Founders Fund.
The tooling around rollups will reach a point of maturity where deploying a rollup specific to an application is as easy as deploying a smart contract today. In a world where there will be dozens and thousands of chains, they will need to seamlessly communicate with each other, or else we risk a major problem of user experience fragmentation.
Anurag Arjun, co-founder of Avail
Anurag Arjun emphasizes the growing importance of such web3 unification frameworks, especially with the evolution of layer 2 rollups that require smooth interaction among thousands of chains to avoid UX fragmentation.
