Web3 investment firm DWF Labsis a new generation blockchain platform based in China. Confluxannounced that it has invested $10 million in
This investment by DWF Labs China Telecom‘Fame Confluxwith blockchain-enabled SHIMMERcard ( BSIM ) came after the partnership. The BSIM card is allegedly capable of storing NFTs with transfer support and exchange functionality.
Conflux Stands Out Thanks to Its Features
The partnership between China Telecom and Conflux last month, blockchain-enabled SIM cards on Conflux’s hybrid proof-of-work ( BSIM) aims to create
Conflux’s native crypto asset CFXperformed by DWF Labs 10 million dollars increased after investment. According to CoinMarketCap data CFX At the time of this writing, it was priced at $0.23 with an increase of 8.15 percent. The rises of the asset in the last two weeks have exceeded the 300 percent level. CFX price after the project’s deal with China Telecom last month 0.05at dollar level 0.35had risen to $.
Commenting on the investment made by DWF Labs, Conflux CTO Ming Wu said: “We are pleased that DWF Labs, one of the most respected and experienced blockchain investors in the world, chose to invest in Conflux. We look forward to working with them and leveraging their expertise to accelerate the adoption of our platform.”
Andrei Grachev, Managing Partner of DWF Labs, stated that Conflux’s partnership with China Telecom is a milestone for the blockchain industry and they are excited to work with Conflux.
Conflux’s Three-Graph consensus algorithm and other highlights of the platform such as interoperability, scalability, and security helped the project become a leading blockchain platform.