Polkadot Web3 wallet Talisman closes $2.35M seed funding round

Published at: Sept. 29, 2021

Talisman, a Polkadot Web3 wallet platform, has raised $2.35 million from early backers including Hypersphere Ventures, Koji Capital and Advanced Blockchain AG as well as several anonymous Flex Dapps investors.

According to an announcement issued on Wednesday, with the funding round closed, Talisman is looking to launch a wallet extension by Nov. 22.

Billed to be a DotSama — a portmanteau of Polkadot (DOT) and Kusama (KSM) — wallet, Talisman reportedly aims to enable cross-compatibility across the Polkadot and Kusama “paraverse.”

Commenting on the decision to support the project, Jack Platts, partner at Hypersphere Ventures said, “Talisman is aiming to become the Paraverse gateway for everyday crypto users.”

Talisman is reportedly building the first DotSama asset dashboard with features such as staking of KSM and other parachain assets, Karura integration for decentralized exchange swapping and Polkadot Crowdloan support.

Other core features in the planned Talisman roadmap includes NFT support, Shiden Dapp staking and third-party fiat on-ramps.

The announcement also stated that with the seed funding secured, the team is looking to expand while adding more essential features to help users interact with the DotSama paraverse ecosystem.

Related: Original $4M Doge NFT meme auctioned off in 17 billion pieces

Talisman’s launch is coming as the DotSama ecosystem begins to take shape with the ongoing Kusama parachain auctions.

As previously reported by Cointelegraph, the first round of parachain auctions was completed back in June with round two currently ongoing.

Kusama DeFi platform Altair became the ninth parachain auction winner overall and the fourth in round two on Wednesday. One more slot auction will take place over the next seven days before a temporary pause that will precede round three of the process.

These parachain auction winners will connect to the Polkadot Relay Chain, possibly kickstarting the bootstrapping of liquidity across the Kusama and Polkadot ecosystems.

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