Coinbase Ventures Invests in $5M Token Sale for Ethereum Data Firm ‘The Graph’

www.coindesk.com

Blockchain data startup The Graph has raised $5 million in a token sale with Framework Ventures, Coinbase Ventures, CoinDesk parent Digital Currency Group, Multicoin Capital, DTC Capital and others. Since The Graph freely provides open-source software, and isn’t promising prompt revenue, any investment in its tokens may be a signal the investor is bullish on Ethereum applications.

“They’ll pay for this service with dai or ether, a more liquid token,” Noon said, explaining how The Graph could follow the 0x model where many service providers offer paid access to the open-source software. A spokesperson for The Graph said the startup uses an “external node provider,” declining to specify which, and that in the future other indexers will choose whether to rely on such providers or run Ethereum nodes themselves.

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