Nibiru Chain Secures $12 Million in Funding to Propel Developer-Centric L1 Blockchain

Renowned L1 blockchain and smart contract ecosystem Nibiru Chain is pleased to announce the successful completion of a whopping $12 million funding round.

Marking a significant milestone for Nibiru Chain, this impressive funding round is set to propel the network as a developer-centric layer one blockchain. Notably, it has positioned Nibiru for a significant expansion in the crypto space.

The success continued with Nibiru’s Community Sale on CoinList, where the initial allocation of $3 million was impressively sold out in 9 minutes, with an additional $3 million extension selling out within 11 minutes. The sale garnered 842% in pre-funded excess interest, attracting 42,713 registrants and over 5,000 purchasers of NIBI, the network’s staking and utility token.

Per the announcement, the funding round saw participation from Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital. Tom Dunleavy, CIO and Partner at Master Ventures Capital, expressed his team’s delight to partner with Nibiru on this journey, saying, 

“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.”

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Notably, Nibiru Chain’s unique approach emphasizes developer and user-centricity, garnering support from key partners. “We look forward to supporting the distinctive Layer 1 model Nibiru has designed, incentivizing developers and users through its smart contract royalty mechanism,” said Brandon Gath, managing partner at Kraken Ventures.

Setting itself apart with innovative tech and high performance, Nibiru Chain boasts 40,000 transactions per second (TPS), 1.4-second block times, and robust security. The platform’s versatility spans real-world assets (RWAs), gaming, DeFi, and more. Developers confidently choose Nibiru Chain, leveraging CosmWasm smart contracts for enhanced security or the familiarity of the EVM.

Nibiru’s “dev gas” royalty mechanism ensures a sustainable model for long-term growth, as highlighted by Allen Su, General Partner at ArkStream Capital. “Nibiru’s integrated super applications, native oracle, and data-indexing significantly reduce the technical selection difficulties for Web3 projects, heightening user and developer confidence.”

Looking ahead to 2024, Nibiru Chain plans an extensive ecosystem expansion. Initiatives include a gamified engagement airdrop, integration with major liquidity centres, listings on top-tier centralized exchanges, implementing parallel optimistic execution, and achieving full EVM compatibility. Flagship dApps like Nibi-Perps, Nibi-Swap, and NUSD are anticipated to mark major milestones in Nibiru Chain’s journey toward a user and developer-centric platform, ushering in mainstream Web3 adoption.