Layer1 has closed a seed funding round worth a cool $2.1 Million. which was led by PayPal co-founder Peter Thiel. It will then use this seed funding to help fund promising blockchain startups and become the defining VC fund for blockchain companies. It will buy up long-term positions of crypto assets from the blockchain projects it’s investing in, then assist them in every way possible to help the value of the token increase and the project to get off the ground. Layer1 is the latest in a string of VC companies that are supporting the blockchain community.
Now Hiring Top Talent
In order to assist the projects that it’s backing, Layer1 is hiring highly talented individuals to join the team. In a Tweet, Alexander Liegl – Layer1 co-founder – announced that the company is hiring passionate contrarians in a bid to strengthen its position as the go-to blockchain VC firm. By hiring an experienced team of developers and advisors, Layer1 will be able to provide a top-notch service and help transform the future of the industry.
Layer1 is hiring! We’re looking for passionate contrarians:https://t.co/CefkDfXVnH
— Alexander Liegl (@alexanderliegl) December 19, 2018
Private Funding Galore
Private funding is becoming an ever increasingly popular form of funding for blockchain related businesses. At the start of November, Bitfury closed a huge $80 million private funding round that boasted names such as Galaxy Digital and Korelya Capital as key investors. Private funding is far easier to get hold of and allows the owners of the firm to stay in total control of the business, without needing to consort with shareholders as the case would be should Bitfury have conducted an IPO.
Could Layer1 Support Wall-Coin?
If Layer1 is looking for a new project to back, it could very well be interested in helping Trump develop Wall-Coin to fund his Mexican border wall. Layer1 could consult with the White House and help the government tokenize ownership of wall segments through an STO. It would be a hugely controversial partnership, but it’s certainly a great way to get its name out there – just a thought.
While Layer1 is looking to help blockchain projects get off the ground, it’s still got a little way to go before it can dish out the cash and actually make a difference. Any good VC will do months of investigations into a project before it even considers investing in it. This could mean we see Layer1 signing its first deals towards the end of Q1 2019. However, it could have been banking on securing the funding and already have a few projects on its radar. If this is the case we could see some major announcements in the coming weeks.
