LayerZero To Launch Native Token In 2024: A Major Leap In Blockchain Interoperability
Portfolio Pulse from Murtuza Merchant
LayerZero Labs, a blockchain interoperability company, plans to launch a native token in the first half of 2024. The company raised $120 million in a Series B funding round in April 2023, reaching a $3 billion valuation. Investors include Sequoia, FTX, and a16z. Details of the token launch and potential airdrop are not yet disclosed.
December 08, 2023 | 5:01 pm
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NEUTRAL IMPACT
FTX, represented by its token FTT, was a notable investor in LayerZero Labs' Series B funding round. The upcoming token launch by LayerZero could indirectly impact FTT's value.
FTX's involvement as an investor in LayerZero Labs' funding round could be seen as a positive endorsement of the interoperability platform, which may indirectly benefit FTX's reputation and potentially its token's value. However, without direct involvement in the token launch, the impact on FTT is speculative and thus the score remains neutral.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50