Nibiru Foundation Launches Venture Arm to Support Web3 Innovation
[PRESS RELEASE – Cayman Islands, Grand Cayman, October 2nd, 2024]
The Nibiru Foundation launches Nibiru Ventures, a strategic venture arm dedicated to supporting blockchain projects building natively in the Nibiru ecosystem. Through funding and guidance, Nibiru Ventures will cultivate the next generation of builders and help bring their application visions to market.
Product and operational support are vital, but capital introductions and commitments have emerged as the most commonly requested resources from founders building applications. Whether targeting multi-chain expansion or building exclusively on Nibiru, product integration comes with costs in the form of developer time and salaries spent.
“Nibiru Ventures was created to overcome the challenges faced by ecosystem dApp founders and expand the scope of the services that Nibiru provides, offering upfront funding and broad support to accelerate their journey,” says Nibiru Chain COO Jonathan Chang.
Chang emphasized that Nibiru Ventures hopes to mitigate the upfront risk associated with integrating an application to a new chain while ensuring alignment with Nibiru, and without enforcing chain exclusivity. On top of this, the team offers guidance on entity formation, pitching, fundraising, go-to-market strategy and technical assistance.
Nibiru Ventures Investment Strategy
Ideas are abundant in the Web3 space, but the path to widespread adoption requires applications that deliver tangible utility. Nibiru Ventures is focused on supporting consumer-facing applications that naturally drive meaningful interest and engagement, in contrast to more esoteric infrastructure projects.
Typical investments focus on pre-seed and seed-stage rounds and priority is given to those with shorter time-to-market. Key areas of focus include pioneering models of decentralized exchanges (DEXs), lending, derivatives, and vaults for structured products.
“For Nibiru Ventures, these sectors are considered particularly promising due to their alignment with patterns of historical adoption, parallels to successes in Web2, and a solid base of existing technology to build upon,” explains Nibiru co-founder, Unique Divine.
To date, one of Nibiru Ventures’ significant investments was made in LayerBank, a decentralized multi-chain lending platform looking to become a liquidity hub across EVM-compatible Layer 2 and rollup chains. With $675+ million USD in total value locked (TVL) and growth potential, LayerBank will introduce cross-chain lending functionality in Q4 2024. This innovation will consolidate fragmented liquidity across various Layer 2s into a unified liquidity pool.
To learn more about the application process for Nibiru Ventures and to apply for funding, readers can visit the application form. By applying, projects gain the opportunity to join a carefully curated portfolio. Nibiru Ventures seeks to partner with forward-thinking founders and teams to drive positive growth in Web3.
About Nibiru
Nibiru Chain is a smart contract ecosystem with a high-performance, EVM-equivalent execution layer (Nibiru EVM). The Nibiru blockchain is engineered to meet the growing demand for versatile, scalable, and easy-to-use Web3 applications. Having secured $20.5 million in strategic and seed funding rounds, Nibiru is backed by investors, including NGC Ventures, HashKey Capital, Kraken Ventures, and Tribe Capital.
The post Nibiru Foundation Launches Venture Arm to Support Web3 Innovation appeared first on CryptoPotato.
