In Brief:
- NEAR Protocol raised $160 million in its latest funding round.
- The funds will be utilized to accelerate the Web3 adoption.
- The funding will also help NEAR in assisting billions of people to learn and use decentralized technologies.
The proof-of-stake blockchain NEAR Protocol has successfully raised $150 million in its latest funding round to drive its mission to assist billions of people to learn and utilize blockchain and decentralized technologies. This fund will also help NEAR to speed up the Web3 adoption and provide an opportunity to join the new audiences.
Three Arrows Capital led the round, along with participation from crypto-native funds such as Alameda, Mechanism Capital. a16z, Dragonfly Capital, Zee Prime, Amber Group, 6th Man Ventures, Circle Ventures. Folius, Jump and MetaWeb.vc – the NEAR ecosystem.
Additionally, several top angels joined the round including Santiago Santos, Alan Howard, and Aave Founder Stani Kulechov. The participation will strengthen NEAR’s reputation among industry leaders as a fast-growing blockchain that offers scalability, simplicity, and security.
Amos Zhang, the founder of MetaWeb.vc, expressed his satisfaction saying that NEAR Protocol’s applied sciences are nice to ramp up blockchain adoption. Zhang further said that NEAR is best suited for empowering blockchain applications for mass adoption.
Kyle Davies, the co-founder and chairman of Three-Arrows Capital, mentioned – “We are excited to support the NEAR team and ecosystem as they scale blockchain applications.”
NEAR has been expanding its reach since last year. Realizing the potential, Ardana in December last year, partnered with NEAR to build the bridge infrastructure required for asset transfer between Cardano and NEAR. Later in 2021, NEAR Protocol launched an $800 million ecosystem development fund to boost its decentralized finance capabilities.
