Nibiru Chain Secures $12 Million Funding to Propel Growth and Innovation

General-purpose layer 1 blockchain Nibiru Chain raises $12 million in funding, attracting top venture investments and positioning itself for a phase of ambitious growth.

Dallas-based Nibiru Chain, a leading general-purpose layer 1 blockchain, has successfully closed its latest funding round, securing an impressive $12 million. The funding round saw participation from prominent venture capital firms such as Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital. With this substantial injection of capital, Nibiru Chain is now poised to embark on a phase of accelerated growth and innovation.

Onboarding Next Generation Blockchain Applications:

Nibiru Chain has garnered attention for its innovative technology and its focus on developer and user-centricity. The platform’s unique Layer 1 model, which emphasizes interoperability and incentivizes developers and users through a smart contract royalty mechanism, has attracted key partners and industry experts.

Brandon Gath, Managing Partner at Kraken Ventures, expressed enthusiasm for Nibiru Chain’s distinctive approach, stating, “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.”

With impressive performance metrics, including 40,000 transactions per second (TPS) and 1.4-second block times, Nibiru Chain offers developers a secure and high-performance platform. The versatility of Nibiru Chain extends to various sectors, including real-world assets (RWAs), gaming, and decentralized finance (DeFi). Developers can build on Nibiru Chain with confidence, leveraging CosmWasm smart contracts for enhanced security or the familiarity of the Ethereum Virtual Machine (EVM).

Allen Su, General Partner at ArkStream Capital, highlighted Nibiru Chain’s integrated features, stating, “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.”

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Looking Ahead – Nibiru Chain’s 2024 Roadmap:

In 2024, Nibiru Chain has ambitious plans to expand its ecosystem and solidify its position as a user and developer-centric platform. The roadmap includes initiatives such as a gamified engagement airdrop, integration with major liquidity centers, listing on top-tier centralized exchanges, implementing parallel optimistic execution, and achieving full EVM-compatibility.

The anticipated launch of Nibiru Chain’s flagship decentralized applications (dApps) in 2024, including Nibi-Perps, Nibi-Swap, and NUSD, will mark significant milestones in the platform’s journey towards mainstream Web3 adoption.

Conclusion:

With its recent successful funding round, Nibiru Chain is well-positioned to drive innovation and growth in the blockchain industry. The platform’s emphasis on developer and user-centricity, combined with its impressive performance metrics and integrated features, sets it apart in the competitive blockchain landscape. As Nibiru Chain continues to expand its ecosystem and launch flagship dApps, it is poised to make a significant impact on the adoption of Web3 technologies.