Blockchain startup Fun raises $3.9M in Pre-Seed Funding

Fun, a New York-based blockchain software development company, has now secured $3.9 million in Pre-seed funding round.

Fun is founded by Alex Fine. It is a blockchain software development company building cross-chain wallet infrastructure, working in partnership with the Odsy Network, to empower developers with the foundational components for new wallet APIs and protocols to provide seamless and whimsical experiences for their customers. Its infrastructure helps to eliminate the risks associated with the centralized custodians when accessing cross-chain assets and core web 2.0 functions in Web 3.0.

Alex Fine, Co-Founder and CEO of Fun, said, "The current generation of wallets are inflexible, static, and can't comprehensively service users' wants and needs. We believe the next 100x in crypto is not going to come from new users but instead from existing users and developers who will finally have a more usable, dynamic, and secure alternative to Externally Owned Accounts (EOAs) and centralized custodians. It's become increasingly clear that Odsy Network offers the most compelling infrastructure upon which to solve the wallet usability problem. We’re excited to leverage Odsy Network's new dWallet primitive to build game-changing wallet and access control solutions."

Justin Mateen, Co-Founder of Tinder and Founder of JAM Fund, who led the round, said, "Fun will enable decentralized wallets to offer the degree of security and usability that today is only available through centralized solutions. For crypto and decentralized technologies to garner mass adoption, solutions like those Fun is building must exist. I backed Alex and Mario because they have the technical skills to create compelling solutions and the drive to turn these solutions into a generational business."

The round was backed by the JAM Fund, with participation from SOMA Capital, Great Oaks Venture Capital, NOMO Ventures and Cory Levy.

The blockchain startup, as of now, has plans to use the new funds to build a suite of products on top of the Odsy Network, a secure and programmable decentralized access control layer to all of the Web3.