Multicoin Capital and Coinbase has invested in two blockchain startup

Large venture Capital firms Multicoin and Coinbase Ventures carried out two joint investments in start-UPS NEAR and Textile.

Round of A Series funding for NEAR headed the company Metastable and Accomplice. Among the other participants Pantera Capital, ACapital and Xpring from Ripple and well-known business angels Nawal Ravikant, Andrew Case and Balaji Srinivasan. In total, the startup has managed to attract $12.5 million.

So, NEAR is developing a public blockchain on the basis of Proof-Of-Stake with the implementation of sharding, which in theory there are no restrictions of network bandwidth. The developers intend to solve the problems of scalability and user experience, but to begin to attract other developers for the creation of decentralized applications.

In the NEAR team has already entered the developers of Facebook, Google and Niantic, and was headed by a former Microsoft employee Alexander Skidanov. Note that an early version of the Protocol of sharding from NEAR ready, while their closest competitor Casper Labs have not submitted any work product.

Textile startup raised $1.5 million for the creation of solutions based on IPFS, which will allow users to interact with decentralized file storage radically new way. The developers intend to create an analogue of iCloud for Web 3.0.

The investment round also participated BlueYard Capital and Collaborative Fund.

It is noteworthy that this week, at least one developer of the decentralized data storage has attracted funding worth $3.25 million a Speech about Boston, the company is Nebulous, the main product of which is the Sia Network. The round was led by Bain Capital Ventures, joined by Bessemer Venture Partners and Dragonfly Capital Partners.

Earlier, Coinbase, Accomplice and Multicoin Capital invested in the developing solution for managing private keys.

The cumulative investment attracted by the blockchain startups in 2019, is already estimated at $822 million.


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