2 years ago
Near Protocol said Wednesday it raised $350 cardinal successful a backing circular led by hedge money Tiger Global successful a bid to “accelerate the decentralization of the NEAR ecosystem.” The rise comes little than 3 months aft Near announced a $150 cardinal backing round.
The terms of the NEAR token starting inching up connected the news, trading astatine $15.82 arsenic of property time.
Crypto-native investors successful the caller circular included Republic Capital, FTX Ventures, Hashed and Dragonfly Capital, among others.
New York-based Tiger Global had $86 cardinal successful assets nether absorption astatine the extremity of past twelvemonth and has a increasing footprint successful crypto investments, having backed backing rounds for blockchain infrastructure level Blockdaemon, crypto speech FTX, outgo processor Moonpay and blockchain quality supplier TRM Labs, among others.
Since its October 2020 mainnet launch, Near has focused connected creating a user-friendly level for developers of decentralized applications (dapps). The speedy proof-of-stake blockchain is meant to service arsenic an alternate to Ethereum, which has scalability issues that tin origin transaction fees to spike.
The progressively cash-rich Near ecosystem has benefited projects gathering connected the blockchain. Last October, Near’s Aurora raised $12 million to bring Ethereum Virtual Machine compatibility to the network.
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