Quick take:

  • Plume will use the capital to accelerate the development of its modular Layer 2 network built on Arbitrum and Celestia.

  • The project is currently in testnet and about to transition to the next phase.

  • Plume said it already has 80 RWA and DeFi projects building on its network.

Plume Network has completed a $10 million seed round round led by Haun Ventures. The fundraising also attracted participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures and Reciprocal Ventures.

The company is building a modular layer-2 network focused on real-world asset tokenisation. According to the announcement, Anthony Ramirez of Wormhole Labs, Calvin Liu of Eigenlayer, Ezaan “Zon” Mangalji of Initia, Andrew Kang of Mechanism, Jeff Feng and Jayendra Jog of Sei Network also joined the round as angel investors.

The Ethereum Virtual Machine (EVM)-compatible is built on Arbitrum’s Orbit network and leverages Celestia Network for data availability. 

Commenting on his company’s decision to use the two technologies for launching its EVM L2, Plume co-founder and CEO Chris Yin said: “This current stack ensures compatibility with the vast majority of protocols in the blockchain ecosystem, RWA chain-level modifications, fast transactions, and the lowest transaction fees.”

The announcement comes ahead of Plume’s transition to public testnet. The company said it already has 80 RWA and DeFi projects building on its network while in private testnet. Some of the projects include those launching digital collectibles, alternative assets, synthetics, luxury goods, real estate, borrow/lend protocols, and perpetual decentralised exchanges, the Block reported.

While some RWA tokenisation platforms have focused on tokenising securities like US treasuries, Plume wants to take the market to the next level, enabling developers to “create markets around things that are yet to exist,” Yin said.

“For example, one of our protocols lets you take out high leverage on RWAs — so you can take out a 50x leverage long on Pokemon cards. That’s not by tokenising every card, but pulling in data,” he said.

Stay on top of things:

Subscribe to our newsletter using this link – we won’t spam!

Follow us on X and Telegram.

The post Plume Network Secures $10M Seed Round for Modular RWA-Tokenisation Platform appeared first on NFTgators .