Point Network Community Update — December 2021

Point Network Community Update — December 2021

Hello early Point Community!

We have not posted much for a while, mainly because we are not fans of announcements of announcements, as has become common in the crypto space. Internally, we were busier than ever. And now, we are happy we can share with you some exciting news that has been in the making for over a month now.

As you may know, we participated in the Solana Ignition Hackathon (Check out our submission entry here: https://devpost.com/software/point-network), and since the judges of the hackathon put us on the honorable mention list, our radical decentralization web3 framework is finally getting noticed by the big players in the crypto space, with many of them wanting to join us in our mission.

What is the big news?

We are thrilled to announce to the world that we have partnered with Sino Global Capital and received backing from their fresh web3 fund in collaboration with FTX, with SGC becoming our lead VC and advisor. We were oversubscribed for the Seed round, and have almost finished collecting commitments for the A round, which is closing in about a week. Among our backers, there is also Arweave which Point uses as a decentralized storage provider and other strategic partners that we will announce as soon as the round fully closes.

Throughout 2021, we’ve had to bootstrap the alpha development with our own funds and that of our friends. And now we’ve had our first proper VC rounds, we are thankful for this vote of confidence and support, which is not only going to be monetary but also in terms of introductions, connections, and advisory roles. What this means for our community, is that we will be able to get the beta out much faster!

What is happening now?

• We’re closing the A round in the upcoming days.
• We’re freezing the content on our Primordium alpha testnet and sunsetting it, to spend our efforts carefully architecting and rolling out the next iteration in the next few months. Don’t worry — all your alpha content is saved and will be migrated, so don’t lose your seed phrase!
• We are entering a transition time, transforming our company from a garage-level startup to one with more streamlined operations. The first thing we will focus on is growing our team, and we are now hiring for the following positions:

Blockchain Architect

Node.js / Typescript Developer

Rust Developer

Full-Stack Blockchain Engineer

If any of these describe you (or you have a friend who would be interested to work with us on the future of web3), please make sure to apply soon or refer them to us using the links above! We are currently selecting the best talent to join us in our journey.

Coming up next

• We will keep you posted on all of our updates, so stay tuned. We’ll continue to chat with you on our Telegram and send updates over Twitter;
• Coming soon: an AMA at the end of the year. Let’s celebrate the growth of this great community together!
• And finally, gear up for the public launch in 2022!

During these past few weeks, we have been talking non-stop with thought-leaders, backers, community members, and other amazing projects in the space. The leitmotif of almost every single call was “we love your vision, but please make it faster, we need this kind of tech yesterday!” — we’ll do our very best to make this happen as soon as possible. And we thank our passionate and growing community of early adopters for rooting for us and helping us test our product.