Freatica project by decentralized market dedicated toinformation exchangecomes out of its stealth mode with a funding from 3.6 million dollars.
Freatic announced on Wednesday that it had closed a round of financing of $3.6 million led by Andreessen Horowitz and counting the participation of other VCs such as Anagram, Archetype and Robot Ventures. Decentralized storage protocol Arweave also got in on the act.
Freatic develops a decentralized infrastructure dedicated to information exchange by taking advantage of blockchain technology and game theory – a field of mathematics which proposes a formal description of strategic interactions between agents, called “players”.
The project aims to create ecosystems aimed at connecting “individuals with knowledge of untapped information” with “players capable of capitalizing on these opportunities”. It already markets two products with The Alpha Factory on Polygon and Capture The Alpha on Arbitrum.
New information often spreads inefficiently through informal networks of trust […] We believe in Freatic’s vision of a decentralized information market and are delighted to support its development,” commented Ali Yahya, Partner at a16z crypto.
We’re excited to announce that Freatic has raised a $3.6 million seed round led by @a16zcrypto!
Read more about it in the announcement below:https://t.co/tG9AvzritH
First a quick intro 🧵 pic.twitter.com/Wg1hTwpe3J
– Freatic (@freaticteam) September 20, 2023
The capital raised by Freatic will be used in particular for expand its teams in order to accelerate its mission. The project is currently looking to recruit cryptographic experts and smart contract developers.
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