The decentralized finance (DeFi) protocol Formless has announced the successful completion of its pre-seed investment round, raising $2.2 million from over 10 investors. Key participants in the funding round include venture funds such as Andreessen Horowitz (a16z), Knights Capital, Wagmi Ventures, CRT Labs, MH Ventures, and several private investors. Sandeep Nailwal, co-founder of Polygon Labs, has also expressed support for Formless.
The project team emphasized that the funds raised will be directed towards further development of the Share protocol and the creation of new next-generation products.
“The support from our investors will play a crucial role in the development of Share and realizing our vision for a decentralized future,” noted representatives of Formless in their statement.
According to information on its website, Formless is a decentralized network and digital space designed for collective ownership and community building around both physical and digital assets.
The project’s founder, Brandon Thorpe, emphasized that the Formless multi-user digital economy allows participants to come together in groups, attract new consumer participants, and provides powerful platforms for major players.
It was previously reported that the fintech company Fiat Republic secured $7 million in investments from Kraken Ventures and other funds.
