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Gringotts Labs raises $300M funding from Ivy Venture to grow its research and development team

Gringotts Labs, a pioneering blockchain incubator, has raised $300 million in funding from Ivy Venture, the top crypto asset management business with $5 billion under management. The Gringotts labs is formed by a consortium of financial experts and blockchain technologists.

This is the first time that Gringotts Labs has sought some kind of investment. The $300 million liquidity investment from Ivy Venture elevates it to the world’s most significant crypto incubator.

Utilization of $300 million funding from Ivy Venture

Gringotts Labs, the dark-horse incubator intends to use the $300 million funds to grow its research and development team and investigate new options ranging from typical DEX and loan products to experimental protocols and blockchain networks.

Gringotts Labs is very keen in Cube Chain and intends to run various competitive DeFi protocols on the Coin Chain blockchain network. Cube Chain is the blockchain network which have multi-chain architecture, specially developed to utilise the full potential of Metaverse, DeFi and GameFi and recently launched its testnet.

Gringotts Labs

The Crypto world is famous for its different thinking, amazing ideas, new visions and projects and it is sometimes also called a crazy world. On the same line, Gringotts Labs is known for its maverick and avant-garde projects in crypto sector. The company generally focus on mediocre ideas that can generate short-term or consistent money. It incubates and develops unique blockchain projects, giving special priority to concepts that may stimulate creativity and advance the industry. This is how it is different from other blockchain or crypto incubators.

What does the funding mean for the morale of the crypto industry?

Gringotts Labs gats funding at a time when the whole crypto market is in volatility. There is uncertainty in the market and the largest cryptocurrency Bitcoin is trading far below its all-time high. There are concerns about Fed tightening, inflation, after-effects of the Luna UST flash collapse, and the Russo-Ukrainian War.

At this time Gringotts Labs remains robust and vibrant, becoming a favourite among crypto capitals. Even with a lot of uncertainties in the industry, Gringotts Labs’ successful $300 million investment from Ivy Venture provides a boost to the market’s weak attitude. 

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