Neptune Mutual Raises Strategic Round, Led by Animoca Brands, to Build Decentralized Cover Protocol for the Metaverse.
Summary
HONG KONG, January 5, 2022 /EINPresswire.com/ -- Neptune Mutual, a multi-chain decentralized cover protocol, announced that it has raised a $3M strategic round led by Animoca Brands. Other investors in this round also included Pacific Century Group, Genesis Block Ventures, Fundamental Labs, GSR, Cambium Grove Capital, and a number of other funds. Neptune Mutual uses parametric cover models to protect user funds from exploits of cryptocurrency exchanges, custody providers, smart contracts, and also metaverse projects. Yat Siu, the executive chairman and co-founder of Animoca Brands, said, “As netizens build their digital properties and social identities in the open metaverse, and as these assets become more valuable, risk mitigation solutions become a necessity. Neptune Mutual shall endeavor to deliver an efficient, reliable and easy-to-use solution for creators to safeguard the value of their NFTs and other virtual assets in the metaverse.” “Our gratitude to DeFi experts from Genesis Block Ventures and Fundamental Labs, traditional insurance experts from PCG (being the primary investor behind FWD insurance group) as well as our other strategic round investors that have put their faith in the Neptune Mutual team”, co-founder Edward Ryall further added.
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