• nil; Foundation has raised $22 million in a funding round led by Polychain Capital.
• The firm will use funds to build a zero-knowledge proofs marketplace for Ethereum and L2s.
• The nil; Foundation will use the funds to boost the development of its zero-knowledge (ZK) Proof Market protocol.
The nil; Foundation, a zero-knowledge proofs research and development platform, has raised $22 million in a funding round. The funding round was led by Polychain Capital, with participation from Blockchain Capital, Starkware, and Mina Protocol, as well as several angel investors including Hasu. The round valued the firm at $220 million.
The nil; Foundation, which was launched in 2018, will use the funds to boost the development of its zero-knowledge (ZK) Proof Market protocol. This protocol is designed to improve the security and scalability of Ethereum, other L1 blockchains, and L2s. The protocol is also meant to provide industry players with a trustless and seamless way to share zk-proofs without relying on centralized intermediaries.
The nil; Foundation’s Proof Market will be a game changer in the blockchain space. By improving security and scalability, blockchains using the nil; Foundation’s Proof Market will no longer need to rely on centralised intermediaries. This will open up new possibilities and opportunities for businesses, as well as users, to make use of the distributed ledger technology in a secure and efficient way.
The nil; Foundation believes that the funds raised will help them to further their mission of building a secure and reliable marketplace for zk-proofs. The team is confident that the new investments will help to accelerate the development of their Proof Market protocol, allowing them to bring it to market sooner.
The nil; Foundation is confident that the funds raised will not only help to speed up their Proof Market protocol, but also to create new opportunities for businesses and users. With the new investments, the team hopes to further their mission of building a secure and reliable marketplace for zk-proofs and opening up new possibilities for the blockchain space.