Nym, a designer of a decentralized personal privacy facilities, has actually raised USD 13 m in a Series A financing round, as the start-up prepares to release its mainnet in the coming months.
The financing round was led by equity capital giant Andreessen Horowitz(a16 z) and signed up with by a variety of other prominent financiers, consisting of Digital Currency Group, Huobi Ventures, HashKey, and others, along with some private node operators on the network. The current round followed a USD 2.5 m seed financial investment in 2019 led by Binance Labs, and a USD 6.5 m round in July this year led by Polychain Capital
Speaking with Cryptonews.com throughout the Blockchain Economy Expo 2021 conference in Dubai today, Nym’s CEO, Harry Halpin, stated that the start-up is now concentrated on releasing its mainnet, which is approximated to occur “by the end of the year or early next year.”
” Once we really struck mainnet, we’re gon na see a great deal of adoption quite quickly,” the CEO stated.
According to him, the business’s testnet has actually handled to reach 10,000 nodes, which he stated is “nearly as huge as even Bitcoin.” (The Bitcoin (BTC) network now has practically 13,500 nodes, per bitnodes.io information).
Nym offers network-level personal privacy that works “sort of like an incredibly VPN that is resistant even versus the nation-state-level foes,” per Halpin. Unlike numerous other jobs that have actually released their own tokens, Nym is not intending for its token– NYM– to be utilized for payments or any other functions outside of its own network. The business rather supports making use of BTC for payments.
Watch the complete interview, where Harry Halpin talks about Nym’s organization design, their collaborations, more capital raise strategies, privacy-related patterns, how the start-up fixes its obstacles, and why Facebook‘s metaverse is “a huge fraud.”