Irys, a company in the programmable datachain space, has successfully closed a Series A funding round, raising $10 million. The funds, led by CoinFund, raise the company's total funding to $20 million.
Irys and New Funding Round
Irys announced the closing of a $10 million Series A funding round featuring investors such as CoinFund and Hypersphere. The funding will help the company in its mission to transform the data economy by addressing inefficiencies.
Opportunities for Data Creators
Irys's infrastructure enables data creators to monetize their work by turning static data into economic assets. The funding will be directed towards developing smart contract-driven licensing tools, enhancing data asset utilization.
Market Insights and Expert Opinions
Irys's fundraising highlights potential opportunities in the data economy, reminiscent of early growth patterns seen in blockchain projects like Ocean Protocol. Exploring possibilities such as programmable datachains could significantly alter traditional data usage models.
The overall funding secured by Irys and new approaches to data economics open promising horizons, potentially impacting monetization models and data management in the future.
