Friday , February 3 2023

$69,888 buyer of Conduit.xyz revealed

Conduit.xyz

Back in December of last year, Swetha posted an impressive sale. Conduit.xyz sold for $69,888. At the time I mentioned the name was first owned by a William Waltz and Conduit, Inc. Then Swetha owned it and she let it drop only to reacquire it.

The domain name was not resolving at the time of the sale. Now there is a live website. No surprise it’s a Crypto focused company.

A lot of the sections on the site are not yet live, but the blog section is live. Interestingly they have a date of February 1, 2023 for the only post. Possibly someone should not have made it live, or they meant to put January 1, 2023.

The post details the company has secured $7M from Paradigm and other investors.

From the post:

Today we’re announcing Conduit.

Our mission is simple: give developers the infrastructure and tooling they need to build great crypto applications that can scale 100-fold, starting with Optimism’s OP Stack.

As the past market cycle has shown, the rising costs of building on mainnet Ethereum is limiting the practical use cases and broader adoption of crypto. L2s with shared applications have also not been immune to congestion issues, with gas fees spiking during periods of high usage.

With the launch of OP Stack, Optimism is pioneering a new blockchain architecture that allows applications to host their own computing environment — providing next-gen scalability without comprising on security. We believe this approach is the end-state for Ethereum scaling, and every team in crypto will need their own dedicated rollup in the same way that web2 companies have their own compute instances in the cloud.

You can read more on Conduit.xyz.

Interestingly there is another Conduit on Conduit.financial.

The post $69,888 buyer of Conduit.xyz revealed appeared first on TLD Investors.

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