OKX Backs Blum: Web3 Trading App Integrates Farcaster

OKX Ventures, the investment arm of cryptocurrency exchange OKX, has announced a seed round investment in Web3 trading app Blum. The funding round was led by gumi Cryptos Capital, with participation from Spartan and No Limit Holdings. Blum also received investment from seed pre-round supporters YZi Labs and Top.co, as well as participation from institutions such as Bitscale Capital and Wintermute.

This investment comes as Blum has received a total of $5 million in seed pre-round funding and seed round funding. The trading app has integrated the Farcaster protocol, allowing users with Farcaster accounts to log in and comment.

The investment in Blum reflects OKX Ventures' commitment to supporting innovative projects in the Web3 space. OKX Ventures has previously invested in other Web3 projects, such as the decentralized exchange (DEX) platform Uniswap and the blockchain gaming platform The Sandbox.

Blum's integration of the Farcaster protocol is a significant development for the trading app. Farcaster is a decentralized social network that allows users to communicate and share content on the blockchain. By integrating Farcaster, Blum is able to provide a more interactive and engaging user experience for its traders.

The investment in Blum also highlights the growing interest in Web3 trading apps. As the Web3 ecosystem continues to grow, there is an increasing demand for decentralized trading platforms that offer users more control over their assets and data. Blum's integration of the Farcaster protocol is a unique feature that sets it apart from other Web3 trading apps.

OKX Ventures' investment in Blum is a vote of confidence in the potential of Web3 trading apps. As the Web3 ecosystem continues to evolve, it will be interesting to see how Blum and other Web3 trading apps continue to innovate and adapt to the changing landscape of the cryptocurrency market.