Nibiru Chain Raises $12M to Drive Developer-Focused L1 Blockchain

Nibiru Chain, a general-purpose layer 1 blockchain, has successfully closed its latest round of funding, securing $12 million to set the stage for an ambitious phase of growth. Venture investments included contributions from Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital.

"Nibiru has taken all of the best in class technology and research developed over the past few cycles and packed them into the best new chain we have ever analyzed. They optimize for developers with a built-in dev toolkit, easy-to-use APIs, language SDKs, and a native oracle. MV Capital could not be more excited to be a partner with Nibiru as we move into the new level of adoption for crypto." - Tom Dunleavy, CIO and Partner at Master Ventures Capital

Nibiru's Community Sale on CoinList sold out its initial allocation of $3M in 9 minutes. An additional $3M extension sold out as well within 11 minutes. By the end, this sale had 842% in pre-funded excess interest, attracting 42,713 registrants and over 5,000 purchasers of the network's staking and utility token, NIBI.

Onboarding Next Generation Blockchain Applications

Nibiru Chain stands out with its innovative tech and emphasis on developer and user-centricity. Key partners expressed their enthusiasm:

"We look forward to supporting the distinctive Layer 1 model Nibiru has designed, where the core primitives are built alongside the core foundation for maximum interoperability — all while incentivizing developers and users through its smart contract royalty mechanism." - Brandon Gath, Managing Partner at Kraken Ventures

It's the platform of choice for developers who prioritize security and performance. Boasting 40K transactions per second (TPS), 1.4s block times, and robust security, Nibiru Chain's versatility spans multiple sectors including real-world assets (RWAs), gaming, DeFi, and more. Developers build on Nibiru Chain with confidence, leveraging CosmWasm smart contracts for enhanced security or the familiarity of the EVM.

Additionally, developers can leverage Nibiru's "dev gas" royalty mechanism to ensure a sustainable model for long-term growth. At its core, Nibiru Chain is driven to create the optimal environment for developers and users.

"Nibiru's integrated super applications, native oracle, and data-indexing significantly reduce the technical selection difficulties for Web3 projects while simultaneously lowering the likelihood of security incidents. This will heighten user and developer confidence and the consequent growth and prosperity of the Nibiru ecosystem. - Allen Su, General Partner at ArkStream Capital

Looking Ahead - Nibiru Chain's 2024 Roadmap

In 2024, Nibiru Chain sets its sights on expanding the ecosystem. Key developments include several initiatives such as a gamified engagement airdrop, integration with major liquidity centers, listing on several top-tier centralized exchanges, implementing parallel optimistic execution, and achieving full EVM-compatibility.

This year is marked by the anticipated launch of Nibiru Chain's flagship dApps such as Nibi-Perps, Nibi-Swap, and NUSD. These releases will mark major milestones in Nibiru Chain's journey towards a user and developer-centric platform.