Web3 wine market Baxus completes $5 million financing, led by Multicoin Capital.

ChainCatcher news, the Web3 wine market Baxus has completed a $5 million financing round, led by Multicoin Capital, with participation from Solana Ventures, Narwhal Ventures, FJ Labs, and a group of angel investors.

BAXUS aims to connect buyers and sellers by integrating the market into a single application, addressing the inefficiencies of the market. Its Web3 marketplace is built on Solana, allowing buyers to transact using credit cards, ACH, wire transfers, or cryptocurrencies including USDC. The beta version was launched last summer and has facilitated $8 million in transactions to date.