The startup NYM Technologies has attracted $ 300 million to the development of the ecosystem

The NYM project oriented on privacy attracted $ 300 million from a number of venture companies to the Focus with a focus on financing ecosystem developers. About this writes The Block.

The team was supported by Polychain, Greenfield One, Huobi Incubator, Tioga Capital, Eden Block, NGC Ventures, Hashky Capital, Figment, Fenbushi Capital, Lem1.

NYM Foundation will distribute funding as necessary. Grants will be from $ 50,000 to “several million dollars”. Acceptance of applications will begin in May 2022.

“$ 300 million – a drop in the sea compared to endless sums of influential https://gagarin.news/ru/about/ circles in Silicon Valley and national states that benefit from mass surveillance”, – said Harry Halpin, CEO of the project.

NyM founded in 2018 provides infrastructure to ensure the confidentiality of personal data. Nodes of a decentralized platform with an open source (mixtant) “mix” user traffic, excluding the disclosure of metadata. For this, they receive a reward in native NYM tokens.

The platform has a potentially wide range of use options, including outside the cryptocurrency industry.

The launch of the developers support fund took place a few weeks after Nym Listing on a number of large bitcoin-wood.

The news led to the active growth of native token up to 40%. At the time of writing, the pace weakened up to 29.2%. With a capitalization of $ 58 million, the asset ranks 530 in the Coingecco rating.

It is assumed that, as the NYM treasury unlocks, tokens will replenish the Ecosystem support fund.

Recall that in November 2021, the startup attracted $ 13 million from A16Z and other investors when estimating $ 270 million.

In August, Nym Technologies, the security consultant was joined by the WikiLeaks Informer Chelsea Manning.