StreamingFast Backs Fluence Labs in Series A
The transfer of ownership and control away from corporations and back into the hands of the people is a major paradigm shift that the world is currently going through. This shift in the way that the heart of the tech world is stored requires a scalable, composable network at its core. We’re happy to announce our latest investment in data composability: Fluence Labs, which recently closed a $9 million Series A led by Multicoin Capital.
StreamingFast is an employee-owned company made up of some of the best Web3 builders in the space. We are Core Developers of The Graph and the masterminds behind the Firehose, a files-based and streaming-first approach to processing blockchain data. We are making strategic investments in projects building core components of the Web3 stack that we can also accelerate through our unique expertise.
A powerful network at the heart of Web3
Built by Fluence Labs, Fluence is a decentralized computing network designed to enable the freedom of digital innovation via peer-to-peer applications. Built on a powerful new language called Aqua, Fluence will allow applications to be turned into hostless workflows with layers of decentralization: from a completely P2P architecture by directly connecting to users devices, to handling only a limited set of servers. With Fluence, developers are empowered to contribute components, APIs, and full-featured applications to the community by earning rewards based on developer integration of your work into theirs. The world has yet to see an extensive array of successful decentralized applications outside of the world of finance. Because of that, there is a massive opportunity for a network of developers to come together and re-architect all of the other corners of the internet that already exist — as well as build new paradigms that are now becoming possible.
With a trustless and verifiable network like Fluence, P2P apps such as messengers, social networks, and streaming services can be built out and shared with the world. Community centred applications would also thrive on Fluence’s incentivized network. DAO-managed applications and creator economies would be able to take advantage of Aqua’s built-in load and redundancy balancing that are driven by an incentive model of the project’s choice.