The Graph will fund The Guild‘s group of developers to develop GraphQL in Web3 with $48 million.
The Guild is leading the development of the GraphQL API, a query language developed by Facebook.
The Graph funds the development of Web3
The $48 million funding will allow The Guild’s developers to create open API functionality for The Graph.
The Guild is the first team dedicated to developing “subgraphs”, APIs for Web3. It is a partner of Microsoft, Fortune 500 and KML, and is considered one of the main contributors to the development of GraphQL projects, a language used by the biggest brands on the web, including Airbnb, Netflix, Shopify.
The funding will last for four years. The agreement will allow The Guild’s developers to work with The Graph’s team to develop new sub-graphs that will enhance The Graph’s query capabilities.
The Graph currently has 24,000 developers who have allowed it to index data from 25 different blockchains, including Ethereum, Arbitrum, Polygon, Celo and others. This has enabled the construction of subgraphs for applications such as Uniswap, Synthetix, Decentraland and others.
From Web3 to the metaverse
This collaboration will lead The Guild to use the GraphQL language also for applications in the DeFi, DAO and metaverse fields. This, according to The Graph’s director Eva Beylin will lead to the growth of Web3:
“The Guild’s experience innovating with GraphQL is unparalleled – they are the best-positioned team to contribute to open APIs for The Graph and to support the needs of web3 application developers”.
What is The Graph
The Graph defines itself as an indexing protocol for querying networks such as Ethereum and IPFS. Founded in 2018, it is proposed as the solution to avoid each team having to develop its own indexing systems. The Graph allows data to be stored and processed in an intact and auditable way making querying the search engine fast, reliable and secure.
It also has a token, GRT, at rank 50 on CoinMarketCap. Currently it is worth $0.6 and is up 1.6% today but has lost almost 80% since the ATH of $2.88 recorded on 12 February 2021.
The post The Graph, $48 million for the development of GraphQL in Web3 appeared first on The Cryptonomist.
