Diagnoal Scores $2.5M Funding Led by Coinbase Ventures, Messari’s Ryan Selkis

Diagonal Finance, a non-custodial protocol has announced a $2.5 Million pre-seed round. The platform’s main goal is to streamline the subscription process for Web 3 companies.

Capital Infusion

Mechanism Capital led the funding round, according to the official blog post. Coinbase Ventures and MetaCartel Ventures were also involved, as was Angel DAO, Angel DAO, Angel Collective, Angel DAO, Angel DAO, The LAO, Founder Collective, Angel DAO, and The LAO. The round was also attended by Ryan Selkis from Messari and Anthony Sassano of The Daily Gwei.

Diagonal Finance will use the pre-seed funding to expand its team and prepare for the beta release. The protocol plans to also unveil a complete product suite to developers to help them integrate on-chain subscriptions into the business.

“This pre-seed round will allow us to execute quicker on our ambitious roadmap. We are also scaling up our team and making our first hires as our race to beta release continues.” – The statement reads.

This latest development is just one month after Diagonal Finance received the Polygon DAO grant. It was used to schedule auditors and develop the product.

Web 3: Next-Gen Internet

Web 3 is abuzz with VC activity. It may be years before it captures major market share, but the evolving landscape of investment shows that it is highly competitive as venture capitalists become less skeptical.

This next iteration has attracted significant investor interest over the past year. Sundar Pichai, the Chief Executive Officer of Google’s parent company Alphabet Inc., has expressed his confidence in the space and revealed that he closely monitors the blockchain industry as well as the Web 3 universe.

Pichai stated that the multi-national tech company is focusing on that goal. According to the 49-year old executive, Web 3 is “something we want support.”

Opera, the Norwegian company that developed the internet browser with the same name, has also announced the beta version for Windows, Mac and Android of the “Crypto Browser Project”. This new project includes Web 3 functionality and aims at advancing the sector’s development.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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