In a Series B funding round worth $120 million, LayerZero Labs, the developer of the blockchain interoperability protocol LayerZero, has achieved a valuation of $3 billion.
On Tuesday, LayerZero announced that the investors involved in the round were a16z Crypto, Sequoia Capital, Circle Ventures, Samsung Next, OpenSea, and Christie’s. This news confirms earlier reporting by The Block, which indicated that LayerZero
was seeking funds at a $3 billion valuation. According to Bryan Pellegrino, co-founder and CEO of LayerZero Labs, the company began raising for the round late last year due to challenging mid-year market conditions.