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Crypto Connectivity Startup GIANT Raises $5M From CoinFund
CoinFund, Gumi and others are backing GIANT’s plans to tokenize cellular bandwidth.
GIANT Protocol has raised $5 million on its plans to shake up the telecom industry by tokenizing bandwidth.
CoinFund led the seed round. Gumi Cryptos, which backed sister project Wificoin, also participated, as did crypto venture capital firms Blockchange, Entheos, Argonautic and Bronco Fund, a press release said.
STORY CONTINUES BELOW
“GIANT has uniquely pledged to convert bandwidth into a digital asset that can be used as a currency,” said Jake Brukhman of CoinFund.
The startup plans to work directly with telecom companies to set up its systems across existing infrastructure. This contrasts with other crypto connectivity projects such as Helium, which bootstraps its own network through a series of user-owned nodes.
The “Global Internet Access Network Token” (GIANT for short) added a new chief operating officer in Merijn Terheggen, founder of cybersecurity company HackerOne. Terheggen is also one of GIANT’s founders alongside Suruchi Gupta.
See also: New Crypto Connectivity Startup Eyes Telecom Partnerships
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
