Swiss-based NEAR Foundation announced Nuffle Labs with €12.1M backing: Know more
Summary
Swiss-based NEAR Foundation, a non-profit that supports the governance and development of the NEAR protocol, on Thursday, announced the launch of an independent entity — Nuffle Labs, with $13M (approximately €12.1M) funding. The funding for this project came from a strategic grant from the NEAR Foundation ($7M) and an investment led by Electric Capital. It supports various rollup types and provides cost efficiency, effortless validation, and user-friendly interaction. It integrates additional public layers into the blockchain stack, allowing for innovative cross-chain applications. With 18M accounts and 550,000 members, the NEAR community is home to innovators, developers, and contributors supporting the protocol’s platform, ecosystem, and applications.