Business News Report
February 05, 2024

Nibiru Chain Raises $12M Funding for Developer-Centric Blockchain Growth

Nibiru Chain Raises $12M Funding for Developer-Centric Blockchain Growth

Nibiru Chain is an L1 blockchain and smart contract ecosystem that has closed its latest funding round, securing $12 million from various venture investments, including Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital.

According to the announcement, Nibiru’s Community Sale on CoinList was highly successful, with the initial allocation of $3 million selling out in 9 minutes. An additional $3 million extension also sold out within 11 minutes, demonstrating significant interest in the project.

Further, the sale attracted 842% in pre-funded excess interest, with 42,713 registrants and over 5,000 purchasers of NIBI, the network’s staking and utility token.

“Nibiru has taken all of the best in class technology and research developed over the past few cycles and packed them into the best new chain we have ever analyzed. They optimize for developers with a built-in dev toolkit, easy-to-use APIs, language SDKs, and a native oracle. MV Capital could not be more excited to be a partner with Nibiru as we move into the new level of adoption for crypto,” said Tom Dunleavy, CIO and partner at Master Ventures Capital.

According to Nibiru Chain, it is a general-purpose layer 1 blockchain known for its technology and emphasis on developer and user-centricity. It offers high performance, with 40,000 transactions per second (TPS) and 1.4-second block times, making it suitable for various sectors including real-world assets (RWAs), gaming, and DeFi.

Additionally, developers can build on Nibiru Chain and utilize features like CosmWasm smart contracts for enhanced security or the Ethereum Virtual Machine (EVM) familiarity. The platform also offers a “dev gas” royalty mechanism for long-term sustainability.

“Nibiru’s integrated super applications, native oracle, and data-indexing significantly reduce the technical selection difficulties for Web3 projects while lowering the likelihood of security incidents. This will heighten user and developer confidence and the consequent growth and prosperity of the Nibiru ecosystem,” said Allen Su, general partner at ArkStream Capital.

Nibiru Chain’s Roadmap for 2024

In 2024, Nibiru Chain sets its sights on expanding the ecosystem. Key developments include initiatives such as a gamified engagement airdrop, integration with significant liquidity centers, listing on several top-tier centralized exchanges, implementing parallel optimistic execution, and achieving full EVM compatibility.

This year is marked by the anticipated launch of Nibiru Chain’s flagship dApps such as Nibi-Perps, Nibi-Swap, and NUSD. These releases will mark significant milestones in Nibiru Chain’s journey towards a user and developer-centric platform.

According to Nibiru Chain, it aims to be the most developer-friendly and user-friendly smart contract ecosystem, leading the charge toward mainstream Web3 adoption by innovating at each layer of the stack: dApp development, infra, consensus, a comprehensive dev toolkit, value accrual.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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