Layer 2 blockchain LightLink has announced a significant milestone raising $6.2 million in funding during an extended seed round. The investment, driven by both institutional and individual investors, emphasizes the growing demand for seamless integration and accessibility within the digital economy.

Roy Hui, co-founder and CEO of LightLink, stated: “Our mission at LightLink is to make blockchain practical and accessible. The investment will help us continue to build a web3 ecosystem for millions of users from our enterprise partners, as well as improve our proprietary tech enabling gasless transactions for users.”

Fresh $6.2 Million

The extended seed round saw participation from prominent entities such as MH Ventures and NxGen, alongside contributions from notable individual crypto investors. This influx of capital, which exceeded initial expectations by $1.7 million, underlines the market's confidence in LightLink's vision and technology.

The raised capital will be instrumental in furthering LightLink's ecosystem growth initiatives, fostering user-focused gasless dApps, and nurturing strategic enterprise partnerships. Additionally, the funding will fuel enhancements to LightLink's proprietary technology stack, ensuring continued innovation and scalability.

Kamran Iqbal, MH Ventures general partner, commented: “It is clear to us that the next stage of blockchain innovation will be centered on simplifying how users interact with dApps and eliminating the cost barrier for individuals that are new to the space. LightLink is at the tip of the spear when it comes to providing gasless transactions to the market, and we are incredibly excited to help support the team to build the next generation of DeFi projects.”

18+ Million Transactions

LightLink's primary objective revolves around facilitating gasless transactions for decentralized apps (dApps) and enterprises, enabling instant transactions without the burden of gas fees. 

With a daily transaction volume of 115,000 and a total of 18.5 million transactions on its Mainnet, LightLink is rapidly gaining momentum. Moreover, LightLink's integration with Celestia on Testnet, along with its impending listing on L2BEAT as the first Optimium L2 with proprietary technology, further solidifies its position as a pioneering force in the blockchain landscape.

Animoca Brands x LightLink

Animoca Brands recently announced a strategic partnership with LightLink. Under the strategic partnership, Animoca Brands will seek to integrate LightLink's Ethereum Layer 2 technology into selected Animoca Brands projects and provide advisory services for LightLink's tokenomics and go-to-market strategies.

Roy Hui, co-founder and CEO of LightLink, commented: “It is great to partner with industry leader Animoca Brands, making blockchain more accessible and user-friendly to everyone around the world. This partnership marks a pivotal step in integrating blockchain into the daily lives of millions.”

Streamlining Web3

LightLink allows businesses to subscribe their applications to operate gas-free, enabling users to participate in a public blockchain ecosystem without owning any tokens or having to pay any gas fees. The partnership will facilitate Animoca Brands’ projects and portfolio companies to offer their users a robust web3 experience with no friction and minimal complexity.

LightLink streamlines the web3 development process, offering significant utilities like NFT ticket issuance without requiring a native token and seamless gaming asset transfers without gas fees, leading to a more streamlined user experience. LightLink is already used by over 25 partners, including Grapes and The Red Village, and is being integrated into Translucia, a $300 million venture by MQDC and T&B Media Global, part of Asia's C.P. Group family business.

Yat Siu, co-founder and executive chairman of Animoca Brands, said: “LightLink is already collaborating with our portfolio companies Grapes and The Red Village, and this new partnership will take us one step closer toward a frictionless Web3 world. LightLink’s gasless transactions can help broader adoption, aligning with our vision to decentralize the digital landscape and make blockchain benefits universally accessible.”

Future Roadmap

Looking ahead, LightLink is gearing up for its LL token launch, supported by a Liquidity Bootstrapping Pool (LBP) on Fjord Foundry. The Token Generation Event (TGE), scheduled for April 21st to April 23rd, promises a fairer distribution mechanism and efficient price discovery for its native token.

By integrating Optimium with its proprietary stack, LightLink aims to offer unparalleled transaction throughput, surpassing Ethereum's capabilities by over 400 times. This commitment to scalability and user experience is reflected in LightLink's expanding roster of partnerships, including its integration into Translucia, a $300 million venture by T&B Media Global and MQDC (as mentioned above).

In conclusion, LightLink's recent funding milestone and strategic initiatives underscore its dedication to revolutionizing the blockchain landscape, paving the way for a more inclusive and efficient digital economy.