• Odsy Network has completed a $7.5 million seed round, led by Blockchange Ventures, to decentralize access control in Web3.
• The Odsy Network provides a secure and programmable access control layer for Web3 through dynamic decentralized wallets.
• This enables developers to recreate existing solutions such as exchanges, custodians, bridges etc. in a trustless way as well as create brand-new solutions that were not possible before.
Odsy Network Raises $7.5M Seed Round
The Odsy Network has successfully completed its seed round of investments, raising $7.5 million from various venture capital firms and strategic partners led by Blockchange Ventures. This round of funding values the company at $250 million and brings together the resources necessary for the development of their access control layer for Web3 networks.
Secure Access Control Layer Through Dynamic Decentralized Wallets
The Odsy Network provides a secure and programmable access control layer for all of Web3 through dynamic decentralized wallets. This technology allows developers to recreate existing solutions such as exchanges, custodians, bridges etc., without relying on centralized infrastructure or single points of failure that are vulnerable to malicious actors or hacks. Additionally, this also enables them to create brand-new solutions that were not possible before due to fragmentation in the current crypto ecosystems.
High Profile Investors Show Support for Odsy’s Mission
In addition to Blockchange Ventures leading the round of investments, other high profile investors including Rubik Ventures, No Limit Holdings, Node Capital, Insignius Capital, FalconX, SolrDAO and TPC have joined in support of Odsy’s mission with their own contributions towards the seed round valuation.. These firms represent some of the most prominent players in the crypto space today and demonstrate just how much potential they see in this project’s potential long term success.
Executive Director Comments On Potential Impact Of dWallets
The Executive Director at Odsy Foundation (and former CEO of Algorand Foundation), Sean Lee commented on what this new technology could mean for Web3 builders: “The potential of new solutions… ones that demonstrate real-world use cases but cannot be built in today’s fragmented crypto ecosystems is extremely compelling for ambitious web 3 builders.“ He continued to say that dWallets can provide an entirely trustless experience which can open up new possibilities which were previously impossible due to lack of infrastructure for decentralized access control systems prior to now.
Conclusion
With this successful completion of their seed round fundraising efforts totaling $7.5 million from various high profile venture capitalists and investment DAOs it is clear just how confident these investors are about Odysy’s mission moving forward into Web 3 development space with their new programmable access control system through dynamic decentralized wallets – dWallets!