Posted: February 26, 2024 6:58 AM Updated: February 26, 2024 6:58 AM
Correction and fact check date: February 26, 2024, 6:58 AM
briefly
MXC has raised $10 million in funding from JDI Ventures to strengthen the DePIN project by providing hardware development expertise and market influence.
MXC, a dedicated DePIN chain running on Arbitrum, today announced that it has raised $10 million in funding, with JDI Ventures leading the investment. JDI Ventures is the DePIN-focused investment arm of JDI Global, a renowned blockchain hardware manufacturer.
With this funding round, JDI Global aims to accelerate the growth of the DePIN ecosystem by working closely with MXC to provide financial support, hardware development expertise, and market influence to foster new DePIN projects.
Given JDI Global’s expertise as a blockchain hardware manufacturer, it is likely that they will contribute to the development of hardware solutions supporting MXC’s DePIN project. This may include specialized hardware components optimized for decentralized networks.
“JDI Global (HNT, DIMO) invests in MXC DePIN space. We provide funding, network coverage and hardware development to the thriving MXC ecosystem.” The MXC Foundation spoke on Platform
MXC has been working to advance the DePIN space since its founding in Berlin, Germany in 2017. In particular, MXC launched the first Layer3 zkEVM solution on Arbitrum with the vision to serve as a DePIN infrastructure for the Ethereum ecosystem.
JDI Global Collaborates to Drive MXC’s DePIN Innovation
Additionally, it can be said that JDI Global’s participation can bring significant market influence and credibility to the MXC project. This could help MXC gain traction within the blockchain and DePIN space, attract more users and partners, and potentially accelerate adoption of the technology.
JDI Global’s collaboration with MXC may go beyond financial support and include support for startup DePIN projects. This can include mentorship, guidance, and resources to help startups succeed in building and scaling decentralized infrastructure.
Recently, MXC unveiled its 2024 roadmap outlining ambitious goals to fully leverage the potential of the MXC zkEVM blockchain. It aims to engage users broadly in activities such as interacting with smart contracts, executing transactions, executing transactions, and leveraging available decentralized applications (dApps). In line with this vision, MXC plans to launch an airdrop event hosted by the MXC Foundation.
The MXC technical team, led by former core members of zkSync, is working hard to drive innovation in DePIN technology.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s expertise lies in producing impactful content, including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s expertise lies in producing impactful content, including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.