L1 blockchain Nibiru Chain completes $12 million financing, with participation from Kraken Ventures and others

ChainCatcher news, according to Chainwire, the Layer1 blockchain project Nibiru Chain has announced the completion of a $12 million financing round, with participation from Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital. Nibiru's community sale on CoinList sold out the initial $3 million in just 9 minutes. An additional $3 million in delayed sales also sold out in 11 minutes. By the end of the sale, it had attracted 42,713 registrants and over 5,000 buyers of NIBI tokens, with an oversubscription of 842% in prepaid interest.

Nibiru Chain is described as an L1 blockchain and smart contract ecosystem. In 2024, Nibiru Chain aims to expand its ecosystem. Key developments include several initiatives such as gamified participation airdrops, integration with major liquidity hubs, listings on multiple centralized exchanges, implementation of parallel optimistic execution, and achieving full EVM compatibility. This year, Nibiru Chain is expected to launch flagship dapps like Nibi-Perps, Nibi-Swap, and NUSD.