Web3 Industry Point of Failure Addressed on Fleek
Web3 projects typically store and serve data for their sites, decentralized applications and NFTs on existing cloud platforms such as AWS and Cloudflare. This leaves them vulnerable to the top-down, centralized rules of Web2 development, hosting and content delivery.
With the demand for content delivery on the rise because of the increase of video, gaming, and other media content popularity, the Fleek platform is no different.
Fleek is a Web3 developer platform that enables web hosting and storage on several different web3 protocols. It is a step closer to overcoming the challenge many Web3 projects face with $25 million in Series A funding, led by Polychain Capital, a premier investor in cryptocurrency protocols and companies leading the global adoption of Web3 technologies.
The funding helps Fleek accelerate the development and launch of Fleek Network to provide true decentralized and censorship-resistant content and application delivery for Web3, while still achieving Web2-like performance.
Fleek Network, scheduled to launch in 2023, addresses a central point of failure in the Web3 industry by creating a fully decentralized content delivery network that will provide censorship-resistant, high-performance content delivery. Fleek Network relies on blockchain technology at its core, allowing governance and token rewards as incentives for participation in serving the network.
“Fleek is providing a critical missing piece to achieving a legitimate decentralized Web3 experience,” said Harrison Hines, co-founder and CEO of Fleek. “With Fleek Network, we will be empowering developers and organizations with an easy and seamless mechanism for Web3 hosting and content delivery that will help deliver on the promise of creating a truly decentralized internet.”
Additional participants in the round include Protocol Labs, Arweave, Coinbase Ventures, Digital Currency Group, North Island Ventures, Distributed Global, The LAO and Argonautic Ventures. These investments demonstrate the industry’s shared recognition of the need for performant, decentralized content acceleration and delivery.
Edited by Erik Linask
