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.