Injective Labs

Injective Labs is a research and development company co-founded by Eric Chen and Albert Chon in 2018. Injective Labs focuses on creating Web3 infrastructure and finance technologies. It is one of the core contributors to Injective.

History
In May 2022, Injective Labs integrated Wormhole to boost its cross-chain capabilities, streamlining asset transfers across multiple blockchains.

In August 2022, Injective Labs raised US$40 million to be used to create a layer 1 blockchain optimized for financial applications.

In January 2023, as reported by TechCrunch, launched its $150 million venture group to support decentralized applications (dApps) built on Injective.

Morons
In March 2021, Injective Labs acquired a Banksy artwork titled "Morons (White)" for $95,000 from Taglialatella Galleries in New York. The company subsequently destroyed the artwork in a public act of burning, which was broadcast live on their Twitter account, BurntBanksy. An image of the work was then sold as a non-fungible digital token.