NEAR, a Swiss NPO(Non Profit Organization) in charge of “contracting protocol maintainers, funding ecosystem development, and shepherding core governance of the NEAR protocol,” has announced a $150 million funding from several predominant crypto investing firms.
CoinDesk reported:
Su Zhu’s Three Arrows Capital led a $150 million funding round for NEAR Foundation. NEAR was backed by a number of major crypto-focused investment funds, including Mechanism Capital, Dragonfly Capital, Andreessen Horowitz (a16z), Jump, Alameda, Zee Prime, and Amber Group, according to the report.
Ashwin Ramachandran, General Partner at Dragonfly, commented on the level of enthusiasm for NEAR :
“In terms of technology, Near has done an excellent job, and we want to help them reach a level of developer, user, and ecosystem adoption that reflects their current level of technological innovation.”
The price of the $NEAR tokens from the sale, aside from being priced at a one-month time-weighted average price, was not disclosed in the report (TWAP).
According to sources close to the project, at least two of the firms involved in the latest round of funding verbally agreed to provide liquidity for emerging DeFi projects on NEAR’s blockchain.
That’s all for NEAR now. Have a productive day, reader.
