Kyve Network hits $100 million valuation as it raises $9 million | Headlines | News
Summary
Kyve Network, a decentralized data storage solution, has raised $9 million in a round led by Distributed Global, according to a news release. Kyve was valued at $100 million after the raise.Wicklow Capita, IOSG Ventures, Blockchain Coinvestors, Anagram, Cerulean Ventures, Huobi Incubator and MEXC Global also took part in the round.Kyve, which operates as a decentralized autonomous organization, or a DAO, is a protocol that allows providers to standardize, validate and permanently store blockchain data streams. This decentralized data storage solution reduces dependence on centralized services such as AWS for web3 companies. "The framework KYVE is building across chains allows developers to collect and categorize data from a truly decentralized environment," said Fabian Riewe,