OpenLayer Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into OpenLayer.
OFFICIAL ANNOUNCEMENT here.
The blockchain ecosystem thrives on openness and decentralization, yet much of the world’s most valuable data remains locked behind the walled gardens of Web2. OpenLayer, a project founded by ex-Meta and Robinhood developers, is tackling this challenge with a bold vision: to onboard the world’s Web2 data to the blockchain in an authenticated, secure, and user-friendly way.
Born from the collective experience of YJ, Kevin, and Chen — veterans of Robinhood who saw firsthand the struggles of data inaccessibility and monopolistic control — OpenLayer seeks to bridge a critical gap. Despite blockchain’s potential to disrupt traditional data silos, critical Web2 data remains inaccessible, stifling innovation and perpetuating centralized control. OpenLayer aims to change that by creating a blockchain-augmented process that incentivizes the collection of data in digestible, verifiable chunks, enabling seamless integration into smart contracts.
We’re excited to announce our participation in OpenLayer’s $5M seed round. This funding will help the company expand its team and scale its infrastructure to bring web proofs to the internet, fundamentally reshaping how data is shared and utilized across platforms.
At its core, OpenLayer functions as an AI-driven data layer, enabling users to contribute and validate data through a simple Chrome extension while earning points. This data is then accessible to application developers with user consent, preserving privacy while unlocking transformative potential across industries.
For example, developers can now verify that a user has completed a specific number of tasks on Fiverr or earned significant trading profits on a centralized exchange — all without needing permissions from the original data source. By leveraging OpenLayer’s tools, companies can harness user-verified data for applications in AI model training, user personalization, and enhanced feature development, marking the beginning of a new era in data portability and interoperability.
This seamless access to authenticated user data is already gaining traction. Over 30,000 users have downloaded OpenLayer’s Chrome extension, and more than a dozen companies in social networking, gaming, and AI are integrating its technology.
OpenLayer is also leveraging the Ethereum ecosystem to supercharge its capabilities. By launching as an actively validated service (AVS) on EigenLayer, an Ethereum restaking protocol, OpenLayer taps into Ethereum’s robust economic security infrastructure. The results are already impressive: OpenLayer AVS has over 48,575 restakers and a restaked value of 3.38 million ether (over $10 billion), making it one of the largest AVSs on EigenLayer.
What makes OpenLayer particularly compelling is its scalability. Unlike the current oracle model, which relies on centralized organizations to identify and implement secure pipelines for specific data sources, OpenLayer’s approach is decentralized and inclusive. By enabling authenticated, arbitrary Web2 data to flow seamlessly into the blockchain, OpenLayer opens new opportunities in areas like AI training, where massive volumes of unstructured text, image, and video data are in high demand.
With its visionary founders, groundbreaking approach, and strong early traction, OpenLayer is well-positioned to become a cornerstone of the Web3 ecosystem. We believe that by unlocking authenticated Web2 data for blockchain applications, OpenLayer is not only addressing a critical bottleneck but also laying the foundation for a more interoperable, decentralized, and user-centric internet.
We’re proud to support OpenLayer in this journey and look forward to witnessing its transformative impact on data portability and interoperability across Web3 and beyond.
About OpenLayer
OpenLayer is an AI-driven data layer revolutionizing traditional data flows. Through a Chrome extension, users can contribute and validate data, earning points while maintaining privacy. Developers, with user consent, can securely access this verified data for applications like AI model training, user targeting, and feature enhancements, bridging the gap between Web2 and Web3.
About Eterna Capital
Eterna Capital is a venture capital firm dedicated to advancing blockchain technology. We invest in visionary entrepreneurs pioneering breakthroughs with blockchain, aiming to drive growth and innovation across the industry. By empowering these innovators, Eterna Capital plays a crucial role in shaping the future of blockchain while providing our investors strategic access to this transformative market.
For more information, visit www.eternacapital.com or follow us on LinkedIn and X.
Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.
