Coral Raises $20M in Funding Round

Coral, a technology company developing Anchor, a Solana development framework, raised $20M in funding.

The round was led by FTX Ventures and Jump Crypto with participation from Multicoin Capital, Anagram, K5 Global, and Frictionless.

The company intends to use the funds to recruit and build the team and to launch its first flagship product, Backpack, later this month.

Led by CEO Armani Ferrante, Coral is the technology company developing Anchor, a Solana development framework, Backpack, and the xNFT protocol. Backpack is an interactive wallet that delivers crypto-native experiences through executable NFTs (xNFTs). xNFTs act as native applications within Backpack—any user with an xNFT in their wallet can launch the application or experience within that xNFT. xNFTs represent a portal to applications, games, or assets built on any chain. Using Backpack, users can access all of their assets and decentralized apps natively in one place.

Coral is launching Backpack into Private Beta and open-source the code.

FinSMEs

29/09/2022