NEAR Raises $350 Million Led By Tiger Global And FTX Ventures
NEAR Protocol has successfully raised $350 million in its latest funding round, accelerating its mission to help billions of people learn and use blockchain and decentralized technologies.
Led by hedge fund Tiger Global, with participation from Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb Ventures, this fundraise includes crypto-native funds as well as a notable move into crypto and the NEAR ecosystem from more traditional firms.
This investment round will accelerate the decentralization of the NEAR ecosystem by supporting growth across industry verticals via ecosystem funds and increasing the number of regional hubs in key community centers across the globe. NEAR Protocol previously raised a $150 million investment round led by Three Arrows Capital, Alameda, and Jump in January 2022.
Late 2021 and early 2022 have seen a wave of venture capital investment in projects building on NEAR, with several more to be announced in the coming weeks — particularly in NEAR- and Aurora-based DeFi projects and applications.
Since launching MainNet in October of 2020, the NEAR network has processed more than 110 million transactions and has over 5 million accounts. More than 450 apps are running or building on NEAR, which has the sixth-largest developer community in the blockchain ecosystem and more than 200,000 community members worldwide. The world’s first truly sharded blockchain, with four shards live today and a full roadmap rolling out during 2022, NEAR is designed to scale to a billion mainstream users.
“NEAR is poised to be a leading smart contract blockchain platform, combining first-rate technology with a fast-growing developer ecosystem. We’re excited to support NEAR as we ramp up our investments in the digital asset space.”— John Curtius, Partner at Tiger Global
ABOUT Near Protocol
NEAR is a high-performance blockchain that is designed to be super-fast, incredibly secure, and infinitely scalable. NEAR’s vision is to create a network that enables people to reimagine finance, creativity, and community in new and inclusive ways.
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