web3mine, an open-source innovation lab focused on Web3 infrastructure, emerged from stealth mode after securing $6 million in seed funding during 2022. The round was led by prominent Web3 investors 1kx and PL Ventures, alongside angel investors.
The company aims to enable collective coordination of capital and hardware to establish open, efficient, and dependable compute infrastructure. As an Alliance DAO accelerator graduate, web3mine addresses Web2 challenges including data localization, vendor lock-in, and market concentration among large corporations.
The Vision
“Cloud providers lock users’ data, are slow to innovate, and command sky high prices,” said founder Vukasin Vukoje, while governments gain inappropriate jurisdiction power. He emphasized building “new technological primitives and new incentive structures powered by crypto networks.”
Key Offerings
Hardware Monetization
Asset owners can deploy and monetize infrastructure including storage drives and computational circuits through job completion.
Liquid Staking
Cryptocurrency holders deploy tokens supporting decentralized network growth, earning staking rewards. Michael Hua from 1kx noted this “creates a liquid staking layer for infrastructure networks” with distinct challenges from Layer 1 solutions.
Filecoin Integration
Initial products target the Filecoin ecosystem, enabling FIL token mining through:
- Cost-effective hardware scaling for operators
- Estimated annual yields reaching 25% for stakers
- Thousands of connected machines providing petabytes of storage
- Tens of thousands of daily computing jobs completed
Brad Holden from PL Ventures praised web3mine’s “most important tooling for the Filecoin network,” supporting Protocol Labs’ mission of advancing decentralized infrastructure access.
