Parlay Labs Begins $2 Million Investment Round Led by DNA.fund as It Launches the Parlay Platform Globally
San Juan, Puerto Rico, August 30th, 2024, Chainwire
Parlay Labs is proud to announce it has begun a $2 million funding round led by DNA.fund as it debuts Parlay, a multichain, no-code, meme coin launchpad and trading platform. Individual investors included in this round are Jon Najarian, co-founder of Market Rebellion and TV personality of FOX Business and CNBC, and Rick Schlesinger, co-founder of EOS New York, among others.
Parlay is the first platform of its kind on Ethereum and the first to integrate multi-chain launching and trading of tokens on Ethereum, Base, Optimism, Arbitrum, Avalanche, Polygon, BSC, and Blast. More networks and product enhancements are scheduled to be added soon.
“We are excited to bring DNA.fund onboard as a highly regarded and trusted partner,” said Alex Mascioli, Parlay Labs Co-Founder. “Brock and Scott are legends in the crypto space and their expertise and friendship are valued by myself and the Parlay team. With their support, we add additional expertise and advisory to take Parlay Labs to the next level.”
Parlay Labs, which is hot-launching the Parlay platform globally this week, is on a mission to expand the total addressable crypto market through user-friendly tools. One important focus by the team is fairer, safer launches which is why the platform has begun rolling out its ‘safe-mode’ features, such as dev-lockups and anti-whale mechanisms. Other main features include token troll boxes with real-time chat, enhanced discovery with dual sorting, added token and trading metrics, along with Parlay points and jackpots.
Parlay Lab’s innovations are driven by its commitment to accessibility. By taking a no-code approach, the launchpad democratizes token creation and trading, allowing users to safely launch tokens on a chain of their choosing in as little as 60 seconds with easy-to-use tools.
Parlay further includes a points system and the progressive Parlay jackpot to reward users throughout the entire product lifecycle. Overall, the protocol offers comprehensive token discovery and trading capabilities, creating a full-service platform for token creators and traders. It is fully EVM-compatible.
Capital and Expertise
Parlay Labs has begun a $2 million funding round led by DNA.fund, a private venture capital firm founded by renowned crypto investors Brock Pierce and Scott Walker. This brings two valuable ingredients to the project: capital and experience.
“The team at DNA is proud to be an investor in Parlay Labs. We believe they are the leaders in building easiest-to-use on-chain tools that help grow the crypto ecosystem and foster further consumer adoption,” said DNA.fund Co-Founder Scott Walker.
DNA.fund founders bring significant industry expertise to this investment. Pierce is a co-founder of Tether, EOS, and Blockchain Capital and also serves as Chairman of the Bitcoin Foundation. Walker is recognized as a highly successful early investor in Bitcoin and Ethereum.
In addition, Nick Mancini, Parlay Labs Co-Founder, said, “With DNA on board, we not only have access to top talent, we also get access to the best partners in the world. With DNA, Parlay Labs is positioning its brand and technology to quickly revolutionize the on-chain product space.”
Proceeds from the funding round will accelerate Parlay’s development and expansion, enabling the platform to reach new markets and continue innovating in the blockchain space.
About Parlay Labs
Parlay Labs is a pioneering blockchain technology company revolutionizing the crypto space by building a multichain, no-code token launch and trading platform.
Founded by industry veterans Alex Mascioli and Nick Mancini, Parlay Labs aims to democratize access to cryptocurrency markets. Parlay Labs advisors include Danish Chaudhry of Paper Ventures, Jon Skaggs of DNA.fund, and Rick Schlesinger. Parlay offers user-friendly tools that empower both novice and experienced users to create, launch, and trade tokens across multiple blockchain networks.
As the crypto industry continues to evolve, Parlay is positioned to help shape the future by making token creation and trading accessible on all networks. Currently, users can trade and launch tokens across Ethereum, Base, Optimism, Arbitrum, Avalanche, Polygon, BSC, and Blast. More chains like Solana, Tron, and TON to be added soon.
About DNA Fund
DNA.fund, founded by Brock Pierce and Scott Walker in 2017, is a venture capital firm focused on blockchain and cryptocurrency projects. The firm invests in early-stage blockchain startups and token sales, such as Animoca Brands, Derebit Exchange, NEAR Protocol, and BRETT token.
DNA.fund operates to support the development of decentralized technologies and expand the adoption of blockchain solutions across different industries. It offers financial support and strategic guidance to the companies it invests in, leveraging its network and experience in the crypto space.
