Victoria, Seychelles, December 11, 2023, Chainwire
Morph, a layer 2 consumer blockchain for value-driven dApps, announced that it has closed a multi-million dollar investment from Web3 and cryptocurrency trading platform Bitget.
“Morph has an outstanding team with experience, a vibrant cross-cultural approach, and industry-leading strategic capabilities to drive mass adoption. We have demonstrated real progress in our commitment to our unique vision of consumer blockchain. Bitget’s commitment to building relationships with exemplary Web3 companies led us to embrace Morph in a collaborative spirit,” said Gracy Chen, Bitget Managing Director.
Morph’s Rollup technology intelligently combines the best features of Optimistic and ZK Rollup to reduce cost barriers, accelerate dispute resolution, and ensure flexible and secure transactions for dApps of all sizes. At the heart of the ecosystem is a decentralized sequencer network that eliminates central points of control, combats MEV dominance, and ensures scalable, affordable, and fast layer 2 transactions for consumers.
“We are very grateful for Bitget’s support,” said Morph co-founder and CEO Cecilia Hsueh. She said, “This latest capital injection demonstrates the incubator’s confidence in Morph’s UVP and sets the stage for our seed funding round. “Our proactive financial strategy is built to address an aggressive roadmap and product development schedule to transform the Layer 2 environment.”
Bitget’s investment represents a convergence of shared visions for value-driven dApps, with both organizations uniquely positioned to build a thriving ecosystem and accelerate user adoption. By leveraging Bitget’s extensive user base of more than 20 million users and Bitget Wallet’s more than 12 million users, Morph can leverage the wealth of knowledge and strategies of its new partners. According to Hsueh, Morph will also implement the exchange’s native affiliate system, which will scale to a large follower base of more than 50 million people, designed to drive initial user acquisition and long-term engagement and investment.
Morph has also established a strategic partnership with Foresight Ventures, a Singapore-based cryptocurrency fund that recently announced the acquisition of a majority stake in leading media group The Block. This strategic move includes wider expansion. Morph expects comprehensive growth in the coming months, encompassing the technology side, the larger ecosystem, marketing, community management, and additional operational departments. Additionally, the company’s testnet beta is expected to launch in early January 2024, and its mainnet beta is expected to launch in the second quarter of 2024.
Introduction to BitGet
Established in 2018, bitget It is the world’s leading cryptocurrency exchange and web3 company. Serving more than 20 million users in more than 100 countries and regions, Bitget exchange is committed to helping users trade smarter through pioneering copy trading features and other trading solutions. Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain crypto wallet that offers a variety of comprehensive Web3 solutions and features, including wallet functionality, swaps, NFT marketplace, DApp browser, and more. Bitget inspires individuals to embrace cryptocurrency through collaborations with trusted partners, including legendary Argentine soccer player Lionel Messi and official esports event organizer PGL.
Introduction to Morphs
morph It is a transparent, community-oriented Layer-2 solution. By combining the strengths of OP and ZK rollups to provide unparalleled scalability and security, we aim to lay the foundation for a consumer-centric, value-driven DApp ecosystem.
With distinctive features such as a decentralized sequencer network, responsive proof-of-validation (RVP) system, and modular design, the project provides efficient and flexible scaling while maintaining the initial security, availability, and compatibility of the Ethereum network.
About Foresight Ventures
Foresight Ventures is a cryptocurrency fund focused on supporting Web3 projects that embody the spirit of decentralization while moving cryptocurrencies toward long-term mainstream adoption. We take pride in our unrivaled media connections, leveraging our impressive global industry network to elevate our projects to incredible visibility and impact. Foresight Ventures manages several funds, including VC funds, actively managed secondary funds, multi-strategy FOFs, and private markets secondary funds. Foresight Ventures, a one-stop shop for cryptocurrency projects, provides incubation, investment and advisory throughout the project life cycle.
contact
Rachel Cheung
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