Nym, a developer of a decentralized privateness infrastructure, has raised USD 13m in a Collection A funding spherical, because the startup prepares to launch its mainnet within the coming months.
The funding spherical was led by enterprise capital large Andreessen Horowitz (a16z) and joined by numerous different high-profile traders, together with Digital Forex Group, Huobi Ventures, HashKey, and others, in addition to some particular person node operators on the community. The newest spherical adopted a USD 2.5m seed funding in 2019 led by Binance Labs, and a USD 6.5m spherical in July this yr led by Polychain Capital.
Talking with Cryptonews.com through the Blockchain Financial system Expo 2021 convention in Dubai this week, Nym’s CEO, Harry Halpin, mentioned that the startup is now centered on launching its mainnet, which is estimated to occur “by the top of the yr or early subsequent yr.”
“As soon as we really hit mainnet, we’re gonna see plenty of adoption fairly quickly,” the CEO mentioned.
In accordance with him, the corporate’s testnet has managed to achieve 10,000 nodes, which he mentioned is “nearly as large as even Bitcoin.” (The Bitcoin (BTC) community now has nearly 13,500 nodes, per bitnodes.io knowledge).
Nym gives network-level privateness that works “type of like a brilliant VPN that’s resistant even towards the nation-state-level adversaries,” per Halpin. In the meantime, not like many different initiatives which have launched their very own tokens, Nym isn’t aiming for its token – NYM – for use for funds or every other capabilities exterior of its personal community. The corporate as an alternative helps the usage of BTC for funds.
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Watch the total interview, the place Harry Halpin discusses Nym’s enterprise mannequin, their partnerships, additional capital increase plans, privacy-related developments, how the startup solves its challenges, and why Fb‘s metaverse is “an enormous rip-off.”
The interview is delivered to you by Matt Zahab and Eimantas Žemaitis.
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