The latest growth round will help address key areas the Hot Cross team has identified in its path of progression.
Industry Leaders Participate in Hot Cross Fund
Hot Cross has officially closed a $5 Million Ecosystem Growth round that saw the participation of numerous industry leaders.
The announcement of the capital support was confirmed on January 12 via the Hot Cross website. Among the touted builder-founders and leaders that took part were Polygon, Coin98, Frontier, Project SEED, Unmarshal, Lancer Capital, Black Mamba Ventures, and TCVN. Early investors in the seed and private round stage like MEXC Global, OKEx Blockdream Ventures, Coin98, StaFi, Unmarshal, TAG Ventures, and Kyber Network were also singled out in the announcement.
“With this new round of fundraising, Hot Cross is poised to enter 2022 with a fresh injection of capital to tackle some of the most in-demand needs of the blockchain industry today, including multi-chain and cross-chain web3 applications and infrastructure, as well as explorations into GameFi, SocialFi, and DAO infra/apps,” the team stated in their announcement.
How Will the Fund be Used?
The team was quick to earmark that there is still plenty of improvement to be made despite the promising period they’ve enjoyed. With exploits abundant in the space, the Hot Cross team made no bones about specific priorities they have.
“This round also allows us to stay vigilant about security as we continue to build out what has become a full-fledged application playground since we launched in 2021,” stated the website post.
Beyond security, the team had other specific points of focus that the Ecosystem Growth round would contribute toward.
B2B advancement
Avalanche and Polygon ecosystem partnerships;
Scaling on a crowded and competitive BSC
Market awareness
Staffing
There was also an understanding by the team of the fact that important innovations take place in a collaborative atmosphere:
“In our look back at 2021 and forward to 2022 we hinted at explorations into GameFi, SocialFi, and DAO’s. Almost nothing of what we do moving forward will be done alone. It’ll either be done with teams entering the space, incubations and/or accelerations of raw talent that wishes to leverage our technology to build something great.”
Here at BSC News we look forward to tracking the impact the Ecosystem Growth round will have on the Hot Cross project.
What is Hot Cross?
HotCross is a multi-chain and cross-chain suite of blockchain tools. The platform aims to be a toolbox for Ethereum and other EVM-compatible networks that can be utilized by both blockchain teams and communities.
Hot Cross has lots of useful applications that individual users can use across multiple blockchains. For businesses, the platform provides blockchain solutions that make it easier to implement community staking programs, compliant crowd sales, NFT minting etc.
Where to find Hot Cross:
Website | Documentation | Twitter | Github | Telegram
Source : bsc.news
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