Pocket Network – an infrastructure middleware protocol which provides decentralized cloud computing and abundant bandwidth on full nodes to other applications across 20 blockchains, including , Polygon, and Harmony has closed a strategic round of $10 Million led by Republic Capital, RockTree Capital, Arrington Capital and C2 Ventures, as well as other notable participants such as Coinshares, Decentral Park Capital and Dominance Ventures.

Pocket Network generated $56,000,000 more monthly in December than many of the well-known chains, placing it in the Top Five global revenue producers for blockchains.

Pocket Network is growing rapidly as L1s and other dApps demand its services. It has grown from thousands to two billion weekly relays starting in 2021, to more than two billion in just one week. Relays were at 5.5 Billion in December, compared with 89M twelve months ago.

Since July, Pocket Network’s usage has more than doubled monthly, measured in “relays” which are API calls processed by the protocol. This week it set a new daily record with 300M+ relays. This has led to a corresponding increase in network usage, which in turn has caused node growth. The network is now serviced by nearly 18,000 nodes that are run by hundreds or independent community providers.

With total network revenue exceeding $56 Million in the month of December, Pocket Network is already comparatively amongst the Top 5 revenue producers for all blockchains and blockchain applications globally (source data from Token Terminal*), while remaining relatively under the radar until now, including having revenues surpassing that of Solana, Elrond, Harmony, and most DeFi protocols.

“Today in blockchain, the valuation of a project is based on its actual performance and real metrics. Pocket Network found a gem which is scaling at incredible speed. Its performance can be measured onchain. Today, many exchanges and apps still depend on Web2 central cloud computing. They can also rely on hosting providers that are Web2 centralized. This can lead to costly downtime. RockTree thinks Pocket Network is essential infrastructure for the Web3 Revolution. It offers decentralization, constant uptime and true decentralization for multi-chain blockchain futurities. Just look at the onchain data” said Omer Ozden, CEO of RockTree Capital, a fund and merchant bank focused on projects at the nexus of Asia and North America. “I want to add that it is Pocket’s high quality team and leadership that has made it an easy choice for RockTree to be their Asia partner and invest.”

“We’re incredibly excited to support Pocket Network in its mission to incentivize L1 decentralization. We are believers in many different ecosystems — including , Algorand & — and understand the need for wide node distribution at the base layer. Ultimately, POKT is critical to enhancing the long-term robustness and antifragility of the entire crypto-ecosystem”, said Michael Arrington, Founder of Arrington Capital.

Pocket Network is looking to expand on the already huge community of thousands upon thousands of node runners. It aims at scaling into the trillions relays per hour spread across hundreds and thousands of full nodes over the next 5 year.

“Pocket Network’s market-based approach to infrastructure properly demonstrates how Web3-native services can outcompete Web2 incumbents both in economics and performance. For blockchain app developers and node runners alike, Pocket is a clear no-brainer.” added Alex Ye, Managing Director, of Republic Crypto.

Pocket Network aims to increase developer adoption and coverage via multiple initiatives. This includes a multi-jurisdictional expansion in Asia-Pacific this year.

“We announced earlier this year the strategic partnership with Rocktree Capital, who is helping lead the global acceleration of our presence into all of the major blockchain markets. Today we are excited to announce the continued acceleration of this plan through the strategic partnerships formed in this sale with Republic, Arrington Capital and many high impact players providing value to the whole Pocket Network ecosystem.” – Michael O’Rourke, CEO of Pocket Network

About Pocket Network

Pocket Network, a Web3 application-specific blockchain data platform, allows applications to use cost-efficient economics in order to efficiently coordinate and share data. This allows seamless, secure interaction between and among blockchains. With Pocket, the use of blockchains can be simply integrated into websites, mobile apps, IoT and more, giving developers the freedom to put blockchain enabled applications into the “pocket” of every mainstream consumer.

RockTree Capital is a Chinese merchant bank/fund that focuses on blockchain projects. It also has offices in New York, Shanghai, New York, and Toronto. RockTree Capital makes investments in blockchain-related projects of high quality and speeds up their development in Asia.

Arrington Capital is an asset management company that focuses on digital capital markets. TechCrunch founder Michael Arrington, and CrunchBase CEO Heather Harde founded the firm in 2017. They have invested over $1 Billion in startups around the globe and now manage more than $1 Billion.

Republic Capital is an investment platform with a strong reputation. It provides both accredited and retail investors access to real estate, gaming, and startup investments. Republic Capital has helped more than $700 million to be invested by over 1 million of our members around the world.

C2 Ventures, a venture fund that is chain independent, focuses on providing capital and operational support to builders in order to create and scale the next generation Web3 and Metaverse apps.

Pocket Network has more information

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