Full-service investment company Genesis Block Ventures (GBV) announces an investment in decentralized storage aggregator ColdStack. ColdStack is an AI-based infrastructure project based on Polkadot blockchain, which allows to unleash the power of Decentralized Clouds for the projects within the crypto space and beyond.
With a mission of building the future through blockchain technology, Genesis Block Ventures continues to build a wide-reaching, vibrant blockchain ecosystem, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and decentralized finance (DeFi) projects.
Genesis Block Ventures participated in ColdStack’s first funding round in March. Other participating institutional investors in the round include Spark Digital Capital, Black Edge Capital, AU21, X21 Digital, Paribus Ventures, Solidity Ventures, Morningstar Ventures and more.
What has impressed us most about ColdStack, is the unique positioning as the Uber for Decentralized Clouds. As the world’s first Decentralized Cloud Platform Aggregator, ColdStack aims to offer a single entry point to any Cloud, optimizing the final costs for consumers. Beyond this, the platform also allows users to tokenize their data with its own tradable Non-Fungible Token (NFT).
As we continue to expand our reach through the crypto space, we are constantly on the lookout for prominent blockchain startups building innovations that can truly reach a broad set of users and give users tangible benefits.
We see the enormous potential ahead for decentralized clouds to disrupt the traditional cloud storage market. However, there are still a lot of challenges decentralized cloud storage is facing on the way to mass adoption.
ColdStack: Uber For Clouds, With NFT
That’s why we’re excited to announce our investment in ColdStack. By offering users with a simple and reliable Cold Data Storage solution at the lowest cost, this will encourage all kinds of users – yes, blockchain and dApp developers, but also businesses and individuals beyond the crypto space – to deploy decentralized clouds as their data storage providers.
ColdStack is incubated by Prometeus Labs, a secure and decentralized ecosystem for trustless and anonymous data exchange and storage. Prometeus Labs works closely with Binance Smart Chain (BSC), Polygon (formerly Matic Network), NGC Ventures, BitTorrent, and other industry leaders. This opens up exciting opportunities for new partners to participate in the success of the ColdStack ecosystem.
Within a short period of its inception, ColdStack has partnered with multiple renowned blockchain technology and venture capital firms. Lately, ColdStack announced a strategic partnership with Web 3.0 infrastructure company Ankr, to establish connections with the data storage services, cloud computing services and data centres.
Through the new investment, Genesis Block Ventures will help further expand ColdStack’s opportunities in the crypto and decentralized cloud storage space. We are excited to participate in ColdStack’s journey to become the Uber for Cloud!
ColdStack is a Decentralized Cloud Storage Aggregator that provides a single entry point to Decentralized Clouds such as Filecoin, SIA, Arweave and Storj with unified API and billing. This eliminates the need for our clients to deal with different APIs and different Clouds. They also can combine multiple Decentralized Clouds in one dApp.
ColdStack can create NFTs (non-fungible tokens) for any file stored in the system. Token format is 100% compatible with major NFT marketplaces like Super Rare or Open Sea, so all the stored files can be immediately offered for sale there.
In short, ColdStack is an AI-based infrastructure project based on Polkadot blockchain, which allows to unleash the power of Decentralized Clouds for the projects within the crypto space and beyond.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.