NEAR Foundation Establishes Nuffle Labs and Receives $13 Million in Funding

PANews reported on June 13 that according to CoinDesk, the NEAR Foundation established Nuffle Labs and received $13 million in funding. The fundraising also included external investors such as Electric Capital, Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan and Lyrik Ventures, which will promote the development and decentralization of the NEAR ecosystem. Nuffle Labs will use NEAR's products to provide data availability and fast final layers.

“As an independent entity, Nuffle Labs will now be able to make agile decisions to ensure that NEAR Modular products remain competitive,” the announcement said. “Strategically positioned between the NEAR Foundation, Ethereum, and the EigenLayer ecosystem, Nuffle Labs will leverage the strengths of multiple platforms to increase the efficiency and resiliency of the NEAR ecosystem.”