Proof-of-stake blockchain NEAR Protocol has raised $150 million in seed investments to accelerate the adoption of Web3 technologies. The team announced that the fund would be used to develop regional hubs and raise awareness for blockchain and decentralized tech.
NEAR Protocol aims to use the fresh funds to foster the adoption of Web3. According to the announcement, the funding will be used to “help billions of people learn and use blockchain.” With this, projects building on the NEAR blockchain will have the opportunity to connect with new audiences.
The investment round was led by hedge fund Three-Arrows Capital, with additional participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures and Circle Ventures. MetaWeb.vc, the NEAR ecosystem fund, also participated