Chain-abstracted memecoin launchpad Printr raises $2.5 million in pre-seed funding

The chain-abstracted token marketplace Printr raised $2.5 million in the firm's first financing round, according to a release shared with The Block. Sfermion, Draper Dragon, Bitscale, Hermeneutic, Sui Foundation, Axelar Foundation and Flow Foundation participated in the funding, which comprises the firm's total funding to date. Printr allows users to launch memecoins across numerous chains, such as Ethereum, Solana, Sui, BNB and Base, with the interoperability platform Axelar unifying liquidity. The firm plans to use the pre-seed funding to grow its team and build out its product, among other uses. "We believe the future of all memecoins will be omnichain," founder Jason Ma wrote. "With Printr, a new paradigm is unlocked — memecoins will be omnichain right from launch, giving them more momentum and growth."Memecoins launches soared within the past year, with platforms like Pump.fun facilitating quicker and easier token launches. The Solana blockchain contained the most memecoin launches, to the point where the network's total value locked increased over 600% within the last 12 months, The Block previously reported. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.