Multicoin Led $10M Raise for Crypto-Incentivized Internet Infrastructure Network Pipe

Crypto venture giant Multicoin led a $10 million fundraise for the builders of Pipe, a proposed "content delivery network" (CDN) that uses tokens to incentivize people hosting internet infrastructure. The startup building Pipe Network, Permissionless Labs, is focusing on one of the unseen but ubiquitous pieces of the modern internet. Many websites cannot afford to let their content lag as it zips long distances from hosting server to end-user. A handful of powerful internet companies like Cloudflare and Akamai run the CDNs that proliferate the modern internet and keep it moving fast. The project will rely on the Solana blockchain.

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