Syntropy Rebrands as Synternet, Raises $10M for Layer-1 Blockchain Platform

Syntropy rebrands as Synternet, a layer-1 blockchain platform for dApps, raising $10M and attracting 100K+ community members. Aims to enable a more open, interoperable, and innovative decentralized web.

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Rizwan Shah
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Syntropy Rebrands as Synternet, Raises $10M for Layer-1 Blockchain Platform

Syntropy Rebrands as Synternet, Raises $10M for Layer-1 Blockchain Platform

Syntropy, a prominent Web3 data platform, has rebranded itself as Synternet, positioning the company as a layer-1 blockchain platform for decentralized applications (dApps). The rebrand includes a new color scheme, logo, and website design, aligning Synternet's external image with its technical innovations and goals.

Synternet has raised $10 million in funding from leading Web3 investment firms and has attracted a community of over 100,000 members. The company plans to launch its mainnet and an Ethereum-Cosmos token bridge in Q2 2024 as part of its 'Monaco' phase roadmap.

The transformation from Syntropy to Synternet is a significant development in the Web3 ecosystem, as the company seeks to offer a robust, scalable, and interoperable infrastructure for Web3, connecting isolated chains into a synchronized network.

Why this matters: Synternet's rebrand and focus on becoming a layer-1 blockchain platform for dApps represents a major shift in the Web3 data infrastructure space. The successful fundraise and strong community support position Synternet as a key player in enabling a more open, accessible, and innovative decentralized web.

The rebrand from Syntropy to Synternet will not impact users' $NOIA tokens, which will continue to function on the Ethereum network without any required action from token holders. The Synternet Web3 Data Layer team now includes over 50 professionals dedicated to delivering scalable on-chain data across DeFi protocols, applications, and enterprises.

"The rebrand to Synternet is a declaration of our bold vision for the future of blockchain, providing the data infrastructure for Web3 and laying the foundation for a more open, interoperable, and innovative decentralized web," said a Synternet spokesperson. The company's roadmap and upcoming mainnet launch demonstrate its commitment to enhancing the functionality and interoperability of the blockchain ecosystem.

Key Takeaways

  • Syntropy rebrands as Synternet, a layer-1 blockchain platform for dApps.
  • Synternet raises $10M, plans to launch mainnet and Ethereum-Cosmos bridge in Q2 2024.
  • Synternet aims to offer robust, scalable, and interoperable infrastructure for Web3.
  • Rebrand does not impact $NOIA tokens, which will continue to function on Ethereum.
  • Synternet's roadmap and mainnet launch demonstrate commitment to blockchain ecosystem.