WalletConnect said it has raised $12.5 million from former investors, intending to build messaging between wallets.
Funds that continue to accompany WalletConnect in the latest funding round include 1kx, Union Square Ventures, Shopify, ConsenSys, and Gnosi.
WalletConnect is an application that allows crypto users to easily link today’s popular crypto wallets together via QR codes, such as MetaMask, TrustWallet, Rainbow or Argent.
We at WalletConnect are thrilled to announce that we have raised $12.5 million in an ecosystem round aimed at driving the next evolution in our growth! https://t.co/Ea7F392KD5
— WalletConnect 📲 (@WalletConnect) November 3, 2022
However, instead of raising capital to continue operating, WalletConnect set out in a more ambitious direction. Specifically, the project wants to form a decentralized communication network. In addition to boosting interoperability with Dapps, WalletConnect also wants to build more notification and information transfer features between wallets. This means that users can message each other through crypto wallets, similar to Telegram or WhatsApp.
WalletConnect CEO Pedro Gomes said:
“What we have now are wallets to store, send, swap tokens and interact with DeFi, but we will soon see a future where users have full control over their Internet assets through just one application. Digital identities, notifications and chat will make the wallet a more versatile social product, rather than just a financial app.”
Mr. Gomes aims to launch chat and notifications on WalletConnect on 01/03/2023. WalletConnect also revealed the possibility of issuing tokens when the latest round of funding, although opened for sale through company shares, also committed to the right to buy tokens in the future.