Analog, a blockchain project looking to improve unified liquidity across multiple networks, said it raised $15 million through a token sale.
Digital asset financier Bolts Capital completed the token purchase to bring Analog’s total backing to $36 million, according to an emailed announcement shared with CoinDesk on Tuesday.
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Analog plans to use the capital to develop interoperability tools like Omnichain Analog Token Standard (OATS), which enables transfer of fungible and non-fungible assets across blockchains chains
Also in the pipeline is Firestarter, a real-world asset (RWA) marketplace to tokenize real estate, collectibles and revenue-producing items.
Tokenization of RWAs represents a use case for blockchain technology of considerable interest for traditional financial (TradFi) institutions.
However, fragmented liquidity across multiple ecosystems is a potential roadblock to further adoption that interoperability projects like Analog are looking to demolish.