In a strategic funding round, AltLayer, a rollup platform focused on blockchain scalability, raised $14.4 million.
A social media post by AltLayer indicates that Hack VC and Polychain Capital co-founded the fundraising campaign to increase the company’s team and improve the rollup’s infrastructure.
To help increase AltLayer’s blockchain scalability and interoperability, OKX Ventures, HashKey Capital, Bankless Ventures and Breyer Capital also participated in the round.
“We are excited about the opportunity to enrich the ecosystem and launch the full range of capabilities of the re-released omnibus packages in 2024.” “We are forever grateful and remain committed to continually building – with your support!”- declares the company.
AltLayer’s development director said AltLayer recently resolved community concerns over the distribution of a $100 million drop . The harsh response resulted in a distribution that attracted some NFT holders.
The company’s director explained the circumstances surrounding the airdrop in response to criticism on the social media platform X (formerly known as Twitter).
Allegations of fraudulent distribution of tokens resulted in selected users allegedly receiving up to $135,000, profiting significantly from subsequent NFT sales.
Development Director Dorothy stated: “Two years ago, as part of a community engagement effort, both NFT collections were withdrawn from sale and announced as a future token.”
Dorothy supported this and appreciated the community’s support, although a user responded to the post by suggesting that only NFT holders could claim the drop. Recently, AltLayer informed Celestia players of the start of the “first season of ALT airdrops.”
