Cross-chain Messaging Protocol Nomad Lands $22.4M in Seed Round

Cross-chain messaging protocol Nomad revealed that a slate of crypto heavyweights participated in the $22.4 million seed round at a $225 million valuation that was announced in April.

The newly announced backers included the venture capital arm of crypto exchange Coinbase, non-fungible token (NFT) marketplace OpenSea, Crypto.com Capital, crypto market-maker Wintermute, decentralized finance (DeFi) platform Gnosis and the Polygon blockchain. The round was led by crypto investment firm Polychain.

Nomad is currently live on the Ethereum mainnet and the Moonbeam, Evmos and Avalanche blockchains. The funding round will in part help Nomad expand to additional chains.

"Because Nomad provides a trust-minimized protocol for cross-chain messaging, there are potential applications that go well beyond just token bridging," said Polygon co-founder Anurag Arjun in the press release. "We look forward to seeing some of those exciting new use cases come to life on-chain."

Source: CoinDesk