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.
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.