Enabling Limitless Scalability in Web3—Investing in KYVE Network

Enabling Limitless Scalability in Web3—Investing in KYVE Network

Jun 28, 2022 11:59 AM
Posted by

Matthew Stotts and Jahed Momand

What is happening to our earth, our oceans, our climate? Are our investments in climate technology, regenerative agriculture, sustainable ocean management and a myriad of other investments we make actually creating the change we need? Only with a verifiable, unchangeable historic record of Earth’s natural resources and systems can we hope to measure positive change and rapidly improve the means we use to achieve it.

What is KYVE?

Cerulean Ventures invested in KYVE Network for just this purpose—to provide the technology necessary to support a globally distributed system for reporting, recording and accessing data on the ecological state of Earth. As investors in technology aimed at rapidly scaling regenerative climate solutions, we saw the power of KYVE to provide a foundation for monitoring, reporting and verification necessary to bring investable climate solutions to market.

At its core, KYVE Network enables data providers to standardize, validate, and permanently store blockchain data streams. Storing and streaming data from the blockchain creates several benefits for climate tech projects operating in Web3, most importantly ensuring that historical data about ecological state is immutable. In a rapidly changing climate and environment, contributing to and accessing a trusted historical record of the earth, the ocean and its living ecosystems is critical to preservation and regeneration.

Why Did We Invest?

Building a data archive accessible to the entirety of Web3 is a massive undertaking and one that the team at KYVE Network has proven they can execute. To date the team has collaborated and integrated with major blockchains, including Arweave, Avalanche, Cosmos, Polkadot, and Solana. At scale, KYVE has the potential to become the trustless, necessary data economy for developers to build fast, rich, data-intensive applications for consumers and enterprises across all of web3.

The need and the market were big enough, but the clincher for us was the team. In short order, the KYVE team has assembled an amazing set of highly engaged contributors, and demonstrated a remarkable ability to ship new technology to production use. Moving off of an Ethereum-based chain sharing dApp infrastructure and blockspace to Cosmos is no small feat, and this team managed it in less than a week! We were very impressed with their engagement and understanding of the Cosmos ecosystem, and their humility in engaging with what they did not know, which enabled us to connect them more deeply with the builders throughout the Cosmos, and developers working with Cerulean.

We’re proud to support KYVE Network by participating in their $9 million seed round, along with Distributed Global, Wicklow Capital, IOSG Ventures, Blockchain Coinvestors, Anagram (Joseph Eagan & Lily Liu), Huobi Incubator, and MEXC Global  and past investors Hypersphere Ventures, Mechanism Capital, CMS Holdings, Volt Capital, and blockchain protocols Arweave, Avalanche, Solana, Interchain Foundation, and NEAR.

Nothing contained herein constitutes investment, legal, tax or other advice nor is to be relied upon in making an investment or other decision. This article contains the opinions of the author, and such opinions are subject to change without notice. Furthermore, it may also include data and opinions derived from third party sources. Cerulean Ventures does not accept liability for the accuracy or completeness of any such information or opinions which can be subject to change without notice.