Blockchain technology provider nChain has announced it would invest $2.4 million in Asset Layer, a digital asset platform utilizing blockchain technology, and obtain a 20% equity stake in the company.
The investment is expected to facilitate a relationship between Asset Layer and nChain that will boost the digital asset platform’s capabilities and promote its usage by utilizing nChain’s comprehensive Web3 and Blockchain IP portfolio. nChain’s advanced blockchain infrastructure will form the foundation of Asset Layer’s solution and help deliver interconnectivity, security, and scalability to its customers.
According to the press release, nChain and Asset Layer are leading the transition to Web3 by providing advanced applications that use effective and interoperable digital assets. The companies emphasized that they place a high priority on user utility and value as well as effectiveness, cost, and simplicity.
Asset Layer provides toolkits for non-technical teams to quickly produce interoperable digital assets that can be used for a variety of branding activities, such as community involvement and loyalty programs, which improves consumer engagement for businesses. With the help of nChain, Asset Layer can broaden its market and serve a wider range of business customers with its cutting-edge Digital Asset as a Service.
Jackson Laskey, CEO of Asset Layer, noted that “nChain is spearheading the world’s transition from Web2 to Web3.” According to Laskey, their platform simplifies this transition and enables application interoperability, transforming Web3 apps into a Web3 ecosystem.
Laskey believes that nChain’s intellectual property, technology, and team will enable Asset Layer to reach its full potential and help the wider Web3 community do the same.
Christen-Ager Hanssen, CEO of nChain Group, remarked that Asset Layer is a valuable addition to their ecosystem and well-suited for multiple projects that nChain is spearheading.
Hanssen stated:
“Together we are transforming legacy tools to be relevant in Web3.”
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