The Layer 1 network blockchain developer Near Protocol raised $350 million led by hedge fund Tiger Global Management to help speed up its mission to help billions of people learn and use blockchain and decentralized technologies.
The other investors like Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb Ventures also took part in the fundraising.
This round of funding will help to accelerate the decentralization of the NEAR ecosystem while also increasing the number of regional hubs in key community centers around the world.
John Curtius, Partner at Tiger Global, said “NEAR is poised to be a leading smart contract blockchain platform, combining first-rate technology with a fast-growing developer ecosystem.”
It is an amazing list of backers supporting NEAR’s mission to empower the world with accessible blockchain technology. A check from a firm like Tiger Global “obviously means they feel Near might be one of the protocols that can take over the world,” said Amos Zhang, a partner at MetaWeb.
NEAR’s Ukrainian Co-Founder Illia Polosukhin helped move at least 50 people out of the nation and raised over $3 million to pay for food, medicine, and evacuation efforts.
NEAR Protocol had raised $150 million in a funding round led by Three Arrows Capital to boost Web3 adoption. This current fundraising more than doubles the investment in just three months. Near Protocol’s market capitalization stands at over $10 billion, placing it among the top 20 cryptocurrency projects.
