Nibiru has secured $12 million in its latest funding round, which it will deploy for its next phase of growth.
Some of the participants in the funding include Kraken Ventures, Banter Capital, Master Ventures, ArkStream, Tribe Capital, and NGC Ventures.
Nibiru Chain Secures $12M for Developer-Focused Blockchain
Interestingly, Nibiru Chain sold out its $3 million allocation for its Community Sale on CoinList in nine minutes. In addition, it sold out a $3 million extension within 11 minutes. The sale impressively recorded 842% in pre-funded excess interest. It attracted about 42,713 registrants and over 5,000 buyers of Nibiru’s utility token, NIBI.
Thank you everyone who participated in the CoinList community sale! Your support and love have not only helped us reach another milestone but also strengthened Nibiru's growing community and ecosystem 💜 pic.twitter.com/okN3lib1xj
— Nibiru Chain (@NibiruChain) February 1, 2024
Some of the partners in the round expressed their excitement at the partnership. Notably, Nibiru’s focus on innovative tech, developers, and user-centricity adds to its appeal to most partners.
Reacting to the fundraising round, Tom Dunleavy, CIO and Partner at Master Ventures Capital said, “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.”
Brandon Gath, Managing Partner at Kraken Ventures, said, “We look forward to supporting the distinctive Layer 1 model Nibiru has designed, where the core primitives are built alongside the core foundation for maximum interoperability—all while incentivizing developers and users through its smart contract royalty mechanism.”
Source: Nibiru
Creating the Path for the Next Wave of Blockchain Apps
Nibiru Chain is an innovative layer-1 blockchain and smart contract ecosystem boasting unique security and throughput. The project’s core focus is to be the most user-friendly and developer-friendly smart contract ecosystem. It also seeks to introduce cutting-edge technology and lead the charge toward mainstream adoption.
Nibiru is most suitable for developers who value performance and security. It boasts an impressive 40K transactions per second (TPS), 1.4-second block times, and advanced security. In addition, Nibiru Chain is a versatile blockchain that can be used in a variety of industries, such as gaming, DeFi, real-world assets (RWAs), and more.
Nibiru provides developers with a reliable platform to build on, utilizing CosmWasm smart contracts for increased security. For example, developers can utilize Nibiru’s “dev gas” royalty mechanism to promote a sustainable model for long-term growth.
Allen Su, General Partner at ArkStream Capital, remarked that “Nibiru’s integrated super applications, native Oracle, and data-indexing significantly reduce the technical selection difficulties for Web3 projects while simultaneously lowering the likelihood of security incidents.”
Nibiru’s core focus for 2024 is to expand its ecosystem with more developers and users. The team has outlined several impressive initiatives to improve its presence and develop its community. Some of the noteworthy plans include gamified engagement airdrops and full EVM compatibility. The team also plans to list on multiple centralized exchanges, integrate with significant liquidity hubs, and parallel optimistic execution.
Source: Nibiru
Nibiru Chain also plans to release some of its major apps this year. This includes apps like Nibi-Perps, Nibi-Swap, and NUSD. These launches will represent significant turning points in Nibiru Chain’s development into a platform that is focused on users and developers.
