The Largest Venture Capital Funds Invested $3 Million In Numerai

A relatively young crypto platform focused on hedge funds, Numerai, successfully closed another round of financing, raising 3 million US dollars.

Famous participants of a token sale

The main investors were such well-known companies as:

  • Placeholder
  • Union Square Ventures
  • CoinFund
  • Dragonfly Capital, and the founder and ideological inspirer of startup Richard Craib.

Nearest plans for Numerai

Officials from the Numerai crypto platform said that the funds received will be used to create a decentralized Erasure protocol. With it, users will be able to associate crypto wallets with a marketplace that will operate on the Ethereum blockchain basis.

"[This fundraising] gives us a lot more money that goes directly to developing Erasure and increasing the number of stakes, increase the users, and letting the protocol be used all over the Internet," Craib told.

How Erasure Works

To date, the Erasure protocol has $2.1 million locked coins. Erasure is the core technology on the Erasure Quant market prediction platform, Erasure Bay marketplace, and expert contests.

To publish the forecast, users must bet with NMR tokens. If their forecast turns out to be incorrect, then the delivered funds are debited from the user's account.

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