Chain-abstracted memecoin launchpad Printr raises $2.5 million in pre-seed funding

The chain-abstracted token marketplace Printr raised $2.5 million in the firm's first financing round, according to a release shared with The Block.  

Sfermion, Draper Dragon, Bitscale, Hermeneutic, Sui Foundation, Axelar Foundation and Flow Foundation participated in the funding, which comprises the firm's total funding to date. 

Printr allows users to launch memecoins across numerous chains, such as Ethereum, Solana, Sui, BNB and Base, with the interoperability platform Axelar unifying liquidity. The firm plans to use the pre-seed funding to grow its team and build out its product, among other uses. 

"This raise will enable Printr to build the first chain-abstracted token launchpad, allowing anyone to create a token on any chain or multiple chains," the firm's founder and CEO who goes by MasterPrintr told The Block. "We believe the token is the product in crypto. Printr will democratize access to crypto for the masses."

Memecoins launches soared within the past year, with platforms like Pump.fun facilitating quicker and easier token launches. The Solana blockchain contained the most memecoin launches, to the point where the network's total value locked increased over 600% within the last 12 months, The Block previously reported.