New York, Sunday, October 12, 2024 – The Nibiru Foundation has launched Nibiru Ventures, a strategic investment arm designed to support development on the Nibiru Chain, its layer-1 blockchain. The venture aims to help ecosystem builders and decentralized application (dapp) developers by offering both financial backing and strategic guidance.
Jonathan Chang, COO of Nibiru Chain, said the initiative is aimed at overcoming challenges faced by dapp founders. In addition to funding, Nibiru Ventures will offer support in areas like market strategies, entity formation, pitching, and fundraising, while also providing technical assistance. The goal is to minimize risks for projects integrating with Nibiru Chain without requiring exclusivity.
Nibiru Ventures plans to focus on pre-seed and seed-stage projects, particularly in decentralized finance (DeFi) and real-world asset spaces. These include decentralized exchanges (DEXs), lending platforms, and vaults for structured products. The fund will also prioritize consumer-facing applications with real-world use cases over behind-the-scenes infrastructure projects.
Co-founder Unique Divine emphasized the potential of these projects due to historical adoption patterns and solid technological foundations. Nibiru Ventures has already made significant investments, including backing LayerBank, a decentralized lending platform with $675 million in total value locked (TVL). LayerBank aims to provide cross-chain lending by the end of 2024.
Launched in March 2024, Nibiru’s ecosystem includes a high-speed Ethereum Virtual Machine (EVM) environment set to go live by the end of the year.
