NEAR Foundation Launches Nuffle Labs and Raises $13 Million

IconCryptoNewsTerminal Staff13 Jun, 2024

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NEAR Foundation Launches Nuffle Labs and Raises $13 Million

NEAR, a layer 1 blockchain, has launched Nuffle Labs, a separate entity, and has raised $13 million in funding. The funding was raised through a strategic grant from the NEAR Foundation and an investment round led by Electric Capital. Nuffle Labs will focus on building modular NEAR products, including the NEAR DA and the NEAR NFFL. These products will help to make NEAR more scalable and accessible, and will further enhance its position as a leading layer 1 blockchain. The launch of Nuffle Labs is a significant milestone for NEAR. It demonstrates the NEAR Foundation's commitment to innovation and to the long-term growth of the NEAR ecosystem. With its focus on building modular NEAR products, Nuffle Labs will play a key role in shaping the future of NEAR and its applications.

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