NEAR Protocol has raised investments of $350 million

The funds will be directed to projects based on the protocol and the growth of the number of divisions

07.04.2022 - 09:00

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What’s new? NEAR Protocol, a platform for smart contracts and creating decentralized applications, has completed a funding round and raised $350 million from major funds and investors. The Block reports about this.

News on The Block’s website

Who participated? The round was led by the US investment firm Tiger Global Management. Other participants include Republic Capital, Hashed, FTX Ventures, and Dragonfly Capital. More venture capital investments in the NEAR protocol-based projects will be announced in the coming weeks.

How will the funds be used? The funding raised is planned to be used for NEAR’s core mission of helping billions of people use decentralized technologies. This will be done by increasing the number of regional units around the world.

NEAR Protocol is a smart contract platform through which developers can create decentralized applications (dApps). NEAR was launched in 2020, with the amount of funds blocked in the ecosystem being $301,42 million as of April 7, 2022 (according to DefiLlama). More details about the project are in the review of GetBlock Magazine.

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