Near Foundation collects $ 150 million to promote the introduction of Web3-altcoins

Near Foundation collects $ 150 million to promote the introduction of Web3-altcoins

On Thursday, the Near Foundation announced that the project collected $ 150 million from strategic investors such as Three-Carrows Capital, A16Z, Mechanism Capital, Dragonfly Capital and Circle Ventures. After the announcement, the native crypto asset of the Near protocol rose by more than 7 % compared to the US dollar.

Near Foundation receives a capital injection of $ 150 million

The team behind the Sharded close to the blockchain protocol , a proof-of-stake (POS) network, has set up $ 150 million in capital in a recent financing round. According to the financing announcement, Mechanism Capital, Dragonfly Capital, A16Z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures, Circle Ventures and Metaweb.VC were also involved.

The Near Foundation Medium-sized blog post notes that the "acceleration of the mass acceptance of web3" is dedicated. "We are pleased to support the Near team and ecosystem in scaling blockchain applications," said Kyle Davies, co-founder and chairman of Three Arrows Capital, in a statement on Thursday. After the announcement, the price of Near, the native token of the protocol, rose by 7.7 % compared to the USD.

according to 24-hour metrics

30-day statistics show almost 111 % profit compared to the US dollar, Rainbow Bridge is the sixth largest cross-chain bridge TVL

Near has developed significantly better in the past few weeks, last month and also in the course of 12 months. Near has increased by 28.2 % in the past two weeks, 30-day statistics have risen by 111 % and the crypto asset has increased by 1.236.5 % in 12 months. The digital currency is now 17th out of 12,447 cryptoma coins with a market rating of $ 2.1 billion at the time of writing.

Near Foundation collects $ 150 million to promote the introduction of web3 Near/USD on Thursday, January 13, 2022, Binance.

The market capitalization of Near corresponds to 0.54 % of the value of the crypto economy of $ 2.1 trillion on Thursday afternoon (EST). Amos Zhang, founder of Metaweb.VC, praised the advantages of Rainbow Bridge and the MultiChain compatibility of Near. "With the multi-interior operability of Rainbow Bridge, Aurora (EVM), Octopus (substrate) and Nightshade-Sharding technology from Near, Near is best suited to strengthen blockchain applications for the mainstream acceptance," said Zhang.

at the time of writing and according to metrics from the diagram of dune analytics called "Bridge Away (L1 Ethereum)" can be emphasized that) The Rainbow Bridge has a total value of $ 478 million (TVL). The bridge holds the sixth largest cross-chain bridge TVL under chains such as polygon, avalanche and ronin. The Near team will use the new financing to accelerate the acceptance of the regional nodes of the protocol and "to raise awareness of the brand".

According to the announcement, the funds build on the total amount of $ 65.9 million, which the Near Foundation raised before the last increase. Digital Currency Group (DCG), Baidu Ventures, Electric Capital, Coinbase Ventures, Pantera Capital and Blockchain.com previously supported the Near project.

Near further claims that it has already founded "communities in Asia, Africa and Europe and would like to help to support emerging communities in Latin America, Turkey and India".

What do you think that the Near Foundation spends $ 150 million from strategic investors? Let us know your opinion on this topic in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com news about the disruptive protocols that arise today.


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