PRESS RELEASE. New York, April 3, 2024 – Camp Network:
Camp Network Raises $4M Led by Maven 11 To Build the Future for Onchain Consumers
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Press release
Modular L2 building the future for onchain consumers Camp Network raised $4M Seed funding round led by Maven 11, with participation from OKX Ventures (ex OKEx Blockdream Ventures), Protagonist, Inception Capital (ex OP Crypto), Paper Ventures, Merit Circle, Hypersphere, Eterna Capital, IVC, HTX Ventures (ex Huobi Ventures) and others, and select angel investors including Eigen Layer, Sei Network, Celestia, Selini Capital, Ethena, and top-level music executives. The new capital will be used to support the network as it approaches mainnet launch and accelerate the growth of over 25 teams already building in the Camp Network ecosystem.
James Chi, Cofounder of Camp Network, said “ Blockchain infrastructure has developed tremendously over the past few years, and the future of blockchain will be defined by how that technology is delivered to and used by consumers worldwide. This investment will propel Camp Network’s mission to redefine the future of onchain consumers and further develop our ecosystem for any consumer use case.”
User engagement data is one of the most valuable data sets, yet applications today struggle to track it. Through its “digital backpack”, Camp Network leverages offchain engagement data from social and streaming apps – where most of users’ digital identities exist today – to help consumer applications better understand and incentivize valuable behavior.
The team has made incredible progress in the last three months since its initial launch. There are 20+ teams already building in Camp Network’s ecosystem, with a combination of native teams as well as teams migrating over from larger ecosystems.
Balder Bomans, Managing Partner of Maven 11, commented “We believe that for blockchain technology to achieve true mainstream adoption, a greater focus should be placed on onboarding the next wave of consumers. In our conversations with the Camp Network team, we were immediately struck by their strong backgrounds and their clear vision for the applications needed in the consumer domain to track user engagement. Over the past few months, their capability to attract leading teams in the space has proven that they are developing something that projects have long awaited.”
With the completion of its successful seed round, Camp is looking to double down on its ecosystem efforts to redefine consumer crypto. The Company is launching its public testnet in April ahead of a mainnet launch in June.
About Camp Network
Camp Network is a modular layer 2 blockchain built for mass adoption and use cases that people enjoy and engage with every day — culture, music, gaming, film, social media, sports and live events. The founding team is composed of three Berkeley alumni, and its broader team is made up of former employees from Goldman Sachs, The Raine Group, Figma, CoinList and Chainlink.
Contact Details
James Chi
Co-Founder and Co-CEO
Camp Network
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