Web3 Wine Market Baxus Raises $5 Million in Funding Round Led by Multicoin Capital

According to Foresight News, Baxus, a Web3 wine market, has successfully raised $5 million in a funding round. The round was led by Multicoin Capital, with participation from Solana Ventures, Narwhal Ventures, FJ Labs, and a group of angel investors. Baxus aims to solve the issue of market inefficiency by integrating the market into a single application, connecting buyers and sellers. Its Web3 market is built on Solana, allowing transactions to be made using credit cards, ACH, direct wire transfers, or cryptocurrencies, including USDC. A test version was launched last summer, and to date, it has facilitated $8 million in transactions.