WELL3 Raises $55 Million Ahead of Token Generation Event, Targeting Decentralized Health and Wellness

WELL3, a pioneer in decentralized wellness solutions, has reached $55 million in total value locked (TVL) within 24 hours during a public sale just ahead of its token generation event (TGE), as per the latest updates shared with Finbold on July 1.

WELL3, a pioneer in decentralized wellness solutions, has achieved an impressive milestone with $55 million in total value locked (TVL) within 24 hours during a public sale just ahead of its token generation event (TGE), as revealed in the latest updates shared with Finbold on July 1.

The numbers indicate strong support from major crypto entities, including Cypher Capital, Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance, and Lumoz.

Decentralized health and wellness

WELL3 is spearheading the transformation of the health and wellness sector with its innovative Decentralized Physical Infrastructure Network (DePIN), Decentralized Identity (DID), and advanced artificial intelligence (AI) systems.

The company aims to enhance well-being by providing secure, data-driven health services that leverage blockchain and AI to offer a personalized healthcare experience that prioritizes data ownership and security.

Fung Kam Keung, CEO and Co-founder of WELL3, highlighted the significance of the recent funding in helping WELL3 achieve its goals, stating:

“Backed by Cypher Capital’s expertise, WELL3 will amplify our ecosystem by integrating cutting-edge technology to expand decentralized wellness solutions and drive impactful growth.”

WELL3's market positioning

WELL3 has already processed over 17 million transactions on its blockchain and created the largest non-fungible token (NFT) collection on the opBNB chain.

The platform’s multichain framework supports Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Blast (BLAST), and Toncoin (TON), enabling users to interact seamlessly across diverse platforms for a cohesive experience.

Harsh Agarwal, Investment Lead at Cypher Capita, noted WELL3's position in the market, stating:

“WELL3 is at the forefront of integrating DePIN, DID, and AI to revolutionize health and wellness. Their robust technology and strategic alliances position them as a powerful newcomer in the healthcare industry.”

WELL3's TGE will launch on July 3 at 10 AM UTC on Bybit.