NCHAIN COMPLETED THE INVESTMENT OF $2.4 MILLION IN ASSET LAYER TO BUILD NEXT-GEN APPS FOR WEB3

LONDON, May 5, 2023 /PRNewswire/ -- nChain, a world leader in Web3 and Blockchain technologies, today announces that it is investing $2.4 million and taking a 20% equity stake in Asset Layer, a complete digital asset platform powered by blockchain.

Digital assets combine files and data with an ownership mechanism enabling users to manage ownership on the Internet. Verticals from gaming, to supply chain to healthcare utilize digital assets and Asset Layer is the first purpose-built complete solution that simplifies digital asset creation and trading.

nChain and Asset Layer are leading the transition to Web3 by providing next-gen apps with efficient and interoperable digital assets. Asset Layer's platform enhances customer engagement for brands by allowing non-technical teams to effortlessly create interoperable digital assets that can serve multiple branding purposes, such as loyalty programs and community engagement. 

nChain and Asset Layer are focused on providing utility and value to users while maintaining efficiency, simplicity, and affordability. Asset Layer is a pioneering Digital Asset as a Service solution and partnering with nChain offers an opportunity to serve larger enterprise customers. Asset Layer currently has 14 active apps, a catalogue of over 5 million digital assets created and has recorded over 12 million on-chain transactions.

Christen-Ager Hanssen, nChain Group CEO, said that "Asset Layer is a fantastic addition to our ecosystem. Asset Layer is the right product for several projects nChain is currently leading. Together we are transforming legacy tools to be relevant in Web3."

By leveraging nChain's robust Web3 and Blockchain IP portfolio, the partnership will enhance Asset Layer's offering and drive the adoption of the platform. nChain provides the core blockchain infrastructure behind Asset Layer's solution, which is affording customers interoperability, security, and scalability.

"nChain is spearheading the world's transition from Web2 to Web3. Our platform's easy-to-use toolset not only helps simplify that transition, but it also helps turn Web3 apps into a Web3 ecosystem by enabling application interoperability," added Jackson Laskey, Asset Layer CEO. "With nChain's IP, tech, and team as a catalyst, not only can Asset Layer reach its potential but so can the wider Web3 world."

Currently, the global Digital Asset Management market size is expected to grow from $4.7 billion in 2023 to $8.7 billion by 2028. This collaboration between nChain and Asset Layer is enabling innovation and powering the creator economy.

About nChain

nChain is a leading provider of global blockchain technology, IP licensing and consulting services. We serve clients globally to power several industries, including gaming, supply chain, and finance. nChain offers Web3 solutions provider defined by a purpose-driven team that has come together to address some of the global challenges and make a social impact, transforming the world from Web2 to Web3. nChain currently has almost 2,800 granted and pending patents and is the developer behind the Bitcoin SV Node software, Teranode, Kensei and more. Recently voted one of the Top 100 most innovative firms in the world.

About Asset Layer Inc.

Asset Layer delivers interoperable digital assets for web3 applications. Developers and creators can leverage our powerful API and no-code tools to create and manage all of their digital assets and easily share them across applications, all available with affordable and predictable SaaS pricing.

For more information contact: 
To learn more visit assetlayer.com.

Contact:

Haris Khan
+44 (0)7503 581563
h.khan@lightningsharks.co.uk
Mobile: +44 (0) 7503 581 563