Chinese technology behemoth Tencent has completed a $15 million Series A funding round for Chainbase, an omnichain data network for web3. The project aims to create a comprehensive on-chain data infrastructure to aid developers accessing blockchain data.
Chainbase is the world’s largest omnichain data network, streamlining blockchain data usage for web3 applications, such as digital currencies and smart contracts.
With the new $15 million funding, Chainbase plans to deploy a pioneering crypto world model to enhance data intelligence and expand AI capabilities across its applications.
The platform currently hosts 8,000 live projects and is used by over 15,000 developers. As a network, it manages more than 500 billion data calls.
In the future, Chainbase aims to engage millions of developers and retail users and to develop standardized tools for on-chain data and machine learning.
Chris Feng, co-founder and COO of Chainbase, said the funding marks a “pivotal moment,” helping build “the first Crypto World Model.”
Last year, Chainbase partnered with the Open Network (TON) Foundation and Tencent Cloud to enhance web3 adoption in the Asia-Pacific region, launching the first data indexing product on TON.
The platform also provides a high-speed, reliable enterprise node deployment service for the TON blockchain.
Earlier this year, Tencent joined China’s metaverse working group, an initiative by the Ministry of Industry and Information Technology (MIIT) to establish metaverse standards.
