As it seeks to compete with Ethereum as a go-to blockchain for decentralized applications, NEAR Protocol announced today it has raised $350 million in a new funding round led by Tiger Global. Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb.vc also participated.
NEAR says this latest funding round will
accelerate the decentralization of the NEAR
ecosystem. NEAR's previous raises included a $21.6 million round in May 2020 and another $150 million in January 2022.
"We are strong believers in NEAR's sharding approach to scale blockchains," Haseeb Qureshi, Managing Partner at Dragonfly Capital, told Decrypt.
