Sri Lanka-born Canadian billionaire Chamath Palihapitiya’s company, Social Capital, has spearheaded an $8 million investment round in Syndica, a Solana-based firm. The Web 3.0 startup is focused on building the ecosystem of the Solana blockchain.
The Houston-based company aims to create a cloud-like infrastructure for the next generation internet. To achieve this, Syndica relies on remote procedure call (RPC) nodes that enable communication between decentralized applications (dApps) and the blockchain.
Glad to Support
Palihapitiya, who invested in Bitcoin in 2013, expressed his excitement to support Syndica’s journey:
Former Facebook executive expects Web 3.0 to revolutionize the internet.
As we reported the other day, Solana recently surpassed Cardano’s market cap for the first time. Earlier today, the price of the cryptocurrency reached $245, and it managed to set a new ATH. SOL was trading at $237 at the time of writing.
In September, FTX CEO Sam Bankman-Fried said Solana was seeing an increase in corporate interest.