Decentralized database solutions Kwil has received a $9.6 million fundraise from crypto venture capital firms FTX Ventures and Digital Currency Group (DCG) according to a filing lodged with the United States Securities and Exchange Commission (SEC).
FTX gives support to most of the cryptocurrencies that are popularly traded. FTX trading supports over 300 projects in the crypto world. The unique products of FTX include stake, leverage tokens, Fiat, Futures, and spot markets. At the same time, Digital Currency Group (DCG) builds and supports bitcoin and blockchain businesses by leveraging knowledge, network, and access to capital.
Kwil is the first distributed decentralized SQL database solution for building advanced dApps and protocols. It ensures large amounts of blockchain data are stored and processed in a short amount of time. This process allows dApp access to its data when plugged into other applications. KwilDB has unique features and allows customers to build products that make its customers superior to their competitors.
The decentralized SQL database for Kwil’s users is referred to as KwilDB. Based on a distributed SQL database, KwilDB developers can enjoy the luxury of easily accessing other data sets. Developers can easily choose which data they want to build their app on. KwilDB Web3.0 offers an unprecedented developer experience with comprehensive data aggregation, unlike the traditional Web2.0 database.
Crypto exchange companies FTX Ventures and DCG will both benefit from investing in Kwil by getting returns from their investments while Kwil uses the funds to build structures for its users and developers.
Kwil currently partners with companies such as Blockchain, Amplify, Arweave, NGC Ventures, FJ LABS, and DCG for funding and insights into the blockchain industry.
Coming off as one of the core protocols to receive VC funding, Kwil has now been added as one of the outfits being envisaged to lead the future of Web3.0 per its primary offerings.
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