Decentology, a blockchain startup, has announced its plans to build the Hyperverse, an open, blockchain-agnostic, decentralized, marketplace for composable smart contracts, after raising $4.3 million in seed funding. The company is backed by crypto investors including Dapper Labs, Borderless Capital, Good News Ventures, Berezka DAO, Synaps, Animal Ventures, and Kosmos Capital.
In addition, Decentology has announced its plans for transitioning to a Decentralized Autonomous Organization (DAO) that will use a community governance model to manage the future growth and development of the Hyperverse.
“We have a bold vision to expand our innovative solutions for smart contract development, discoverability, monetization and security with the Hyperverse as we onboard the next 10 million Web 2.0 developers to Web 3.0 with the support of our community,” said Nik Kalyani, Decentology co-founder and CEO.
“We’ve long believed composability between dapps will be the multiplier effect for innovation to compound at a rate never seen before. It’s very exciting to see amazing applications on Flow like the Hyperverse bring a new wave of mainstream developers into our space through a new incentive model,” said Mickey Maher, SVP of Partnerships at Dapper Labs.
“Decentology’s novel method of introducing monetization for developers of decentralized apps we believe is a game changer for the adoption of blockchain and have the conviction that they are poised to win,” said Marat Mukhamedyarov, Founding Partner at Good News Ventures.
“Staking by auditors to communicate trust in Open Source code is a new approach to security,” Kalyani said. “It adds an insurance layer that signals which modules can be trusted by customers.”
“Composability of smart contract features along with decentralized security auditing is the next frontier of blockchain development. We are excited to welcome the Hyperverse platform to the Algorand ecosystem,” said David Garcia, CEO and Managing Partner of Borderless Capital.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.