Chainbase, the preeminent omnichain data network, has successfully garnered $15 million in funding, with Tencent Holdings Ltd. leading the investment. This initiative aims to establish a robust on-chain data infrastructure tailored for the burgeoning web3 landscape.

This strategic infusion of capital will streamline developers’ access to blockchain data, fostering the advancement of various web3 applications, including digital currencies and smart contracts, in an equitable and open manner.

Chainbase intends to channel these fresh funds towards deploying an avant-garde crypto model, designed to enhance data intelligence on the blockchain while amplifying AI functionalities across its suite of applications.

Presently, Chainbase supports 8,000 active projects and serves over 15,000 developers, with its network managing upwards of 500 billion data requests. Looking ahead, Chainbase envisions engaging millions of developers and retail users, and aims to develop standardized tools for on-chain data development and machine learning.

Read more: Skild AI Secures $300M Investment from Jeff Bezos and Softbank to Develop ‘Robot Brain’

Chris Feng, co-founder and COO of Chainbase, described the funding round as a “watershed moment,” emphasizing that the investment would facilitate the creation of “the inaugural Crypto World Model.”

“We are forging ahead with the construction of our mainnet—a groundbreaking 4-layer dual consensus omnichain data network crafted for the AI era. Our architectural design prioritizes openness, permissionless access, transparency, security, and instantaneous data processing from the core. We anticipate launching the test net in August,” Feng conveyed to crypto.news.

In the previous year, Chainbase formed a strategic alliance with the Open Network (TON) Foundation and Tencent Cloud to accelerate web3 adoption across the Asia-Pacific region. As part of this collaboration, Chainbase introduced the first data indexing product on TON.

Moreover, the platform provides a high-velocity, reliable enterprise node deployment service for the TON blockchain, underscoring its commitment to delivering cutting-edge solutions.

Amid this dynamic backdrop, Tencent joined China’s metaverse working group earlier this year, an initiative spearheaded by the Ministry of Industry and Information Technology (MIIT) aimed at establishing standardized protocols for the metaverse.

Chainbase’s visionary endeavors, bolstered by this significant funding round, position it at the forefront of on-chain data intelligence, poised to drive transformative advancements in the crypto and web3 domains.