Secret Network Announces $400M in Ecosystem Funding

Secret Network is excited to share some major announcements as part of its recently revealed growth initiative, Shockwave, aimed at solidifying its network as a critical pillar and data privacy hub for Web3.

Secret Network announce publicly for the first time that multiple top-tier investment firms have acquired SCRT positions and recently joined the Secret ecosystem as critical stakeholders, including: DeFiance Capital, Alameda Research, CoinFund and HashKey.

Secondly, Secret are revealing a new $225M ecosystem fund comprised of contributions from 25 existing ecosystem investors and partners targeted at expanding Secret Network’s application layer (including DeFi and NFTs), network infrastructure, and tooling.

Thirdly, Secret are announcing its $175M accelerator pool (funded in SCRT) that is designed to provide non-dilutive capital, grants, and ecosystem incentives to rapidly expand user adoption.

This news follows Monday’s launch of the auctions for the highly-anticipated Tarantino NFTs, a collection of seven rare NFTs issued by Quentin Tarantino on Secret Network that has been covered in The New York Times, The Wall Street Journal, CNBC, and elsewhere. These Secret NFTs secure chapters from the original, never-before-seen handwritten Pulp Fiction screenplay as well as exclusive commentary from the award-winning director and screenwriter.

Secret Network thrilled to finally reveal the $225M Secret Ecosystem Fund, a new initiative designed to provide long-term support (both financial and strategic) to developers and founders building critical applications on Secret Network.

The primary goal of the ecosystem fund is to ensure that every individual, team, and organization building on Secret has a clear path to self-sustainability and support in bringing their products to market.

ABOUT Secret Network
Secret Network is the first blockchain with data privacy by default, allowing you to build and use applications that are both permissionless and privacy-preserving. This unique functionality protects users, secures applications, and unlocks hundreds of new use cases for Web 3.

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