Chinese technology behemoth Tencent has completed a $15 million Series A funding round for Chainbase, an omnichain data network for web3.

According to a press release shared with crypto.news, the funding round saw participation from notable investment entities, including Tencent Investment Group, Matrix Partners, and Hash Global.

Chainbase is the world’s largest omnichain data network. The project aims to create a comprehensive on-chain data infrastructure for the web3 space.

This makes it easier for developers to access and use blockchain data in an open and fair way, helping to power various applications in the web3 space, including things like digital currencies and smart contracts.

With the fresh funds, Chainbase plans to deploy a pioneering crypto world model to improve data …