Near Foundation Raises $150 Million to Bolster Web3 Adoption

On Thursday, the Near Foundation announced the task has raised $150 cardinal from strategical investors specified arsenic Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocol’s autochthonal crypto plus jumped much than 7% against the U.S. dollar.

Near Foundation Gets a $150 Million Capital Injection

The squad down the sharded Near blockchain protocol, a proof-of-stake (PoS) network, has raised $150 cardinal successful superior successful a caller concern circular led by Three-Arrows Capital. According to the backing announcement, Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures, Circle Ventures, and Metaweb.vc besides participated.

The Near Foundation’s Medium blog post notes that the backing volition beryllium dedicated to “accelerating wide adoption of Web3.” “We are excited to enactment the NEAR squad and ecosystem arsenic they standard blockchain applications,” Kyle Davies, the co-founder and president of Three Arrows Capital said successful a connection connected Thursday. Following the announcement, the terms of NEAR, the protocol’s autochthonal token jumped 7.7% according to 24-hour metrics against the USD.

30-Day Statistics Show Near Gained 111% Against the US Dollar, Rainbow Bridge Is the 6th Largest Cross-Chain Bridge TVL

NEAR has done considerably amended than astir coins during the past fewer weeks, the past month, and the people of 12 months arsenic well. NEAR is up 28.2% implicit the past 2 weeks, 30-day stats bespeak NEAR has risen 111% and the crypto plus gained 1,236.5% successful 12 months. The integer currency is ranked 17 retired of 12,447 crypto coins contiguous with a marketplace valuation of $2.1 cardinal astatine the clip of writing.

NEAR/USD connected Thursday, January 13, 2022, via Binance.

NEAR’s marketplace headdress represents 0.54% of the crypto economy’s $2.1 trillion successful worth connected Thursday day (EST). Amos Zhang, laminitis of Metaweb.vc complimented the benefits of the Rainbow Bridge and Near’s multichain compatibility. “With multichain interoperability of Rainbow Bridge, Aurora (EVM), Octopus (Substrate), and NEAR native’s Nightshade sharding technology, NEAR is champion suited for empowering blockchain applications for mainstream adoption,” Zhang said.

At the clip of penning and according to metrics from the Dune Analytics’s illustration called “Bridge Away (L1 Ethereum),” the Rainbow Bridge has $478 cardinal full worth locked (TVL). The span holds the sixth-largest cross-chain span TVL beneath chains similar Polygon, Avalanche, and Ronin. The Near squad volition leverage the caller backing to accelerate the adoption of the protocol’s determination hubs and “raise consciousness for the brand.”

According to the announcement, the funds physique upon the aggregate of $65.9 cardinal raised by the Near Foundation anterior to the latest raise. Digital Currency Group (DCG), Baidu Ventures, Electric Capital, Coinbase Ventures, Pantera Capital, and Blockchain.com antecedently backed the Near project.

Near further claims that it has already established “communities successful Asia, Africa, and Europe, and is looking to assistance enactment emerging communities successful Latin America, Turkey, and India.”

What bash you deliberation astir the Near Foundation raising $150 cardinal from strategical investors? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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