{"id":60882,"date":"2022-05-02T16:53:16","date_gmt":"2022-05-02T13:53:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60882"},"modified":"2025-09-05T08:55:53","modified_gmt":"2025-09-05T05:55:53","slug":"nym-technologies-raises-300-million-to-develop-its-ecosystem","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nym-technologies-raises-300-million-to-develop-its-ecosystem\/","title":{"rendered":"Nym Technologies raises $300 million to develop its ecosystem"},"content":{"rendered":"

The privacy-focused project Nym has raised $300 million from a number of venture firms into a fund focused on financing ecosystem developers. The Block<\/a> reports.<\/p>\n

The team was backed by Polychain, Greenfield One, Huobi Incubator, Tioga Capital, Eden Block, NGC Ventures, HashKey Capital, Figment, Fenbushi Capital, OKX Blockdream Ventures, Tayssir Capital, KR1, Lemniscap, and a16z.<\/p>\n

The Nym Foundation will allocate funding as needed. Grants will range from $50 000 to ‘several million dollars’. Applications will begin in May 2022.<\/p>\n

\n

“$300 million is a drop in the ocean compared with the endless sums enjoyed by influential circles in Silicon Valley and nation-states that profit from mass surveillance.”<\/em>, said Harry Halpin, CEO of the project.<\/p>\n<\/blockquote>\n

Founded in 2018, Nym provides infrastructure for protecting personal data privacy. The nodes of the decentralized open-source platform (mixnet) ‘mix’ users’ traffic, preventing metadata disclosure. They receive compensation in native NYM tokens.<\/p>\n

The platform has a potentially wide range of use cases, including outside the cryptocurrency industry.<\/p>\n

The launch of the developer fund came a few weeks after NYM’s listing on several major Bitcoin exchanges.<\/p>\n

The news sent the native token higher by as much as 40%. By the time of writing, gains had cooled to 29.2%. With a market capitalization of $58 million, the asset ranks 530th in CoinGecko’s standings.<\/p>\n

\n
\"Nym
Hourly NYM\/USDT chart on Huobi. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n

It is expected that as the NYM treasury unlocks, the tokens will replenish the ecosystem-support fund.<\/p>\n

In November 2021, the startup raised $13 million from a16z and other investors at a $270 million valuation.<\/p>\n

In August, WikiLeaks source Chelsea Manning joined Nym Technologies as a security advisor.<\/p>\n

Subscribe to ForkLog’s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The privacy-focused project Nym has raised $300 million from a number of venture firms into a fund focused on financing ecosystem developers. The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":60883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1938,1256,1133],"class_list":["post-60882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nym-technologies","tag-privacy-and-personal-data","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60882"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60882\/revisions"}],"predecessor-version":[{"id":60884,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60882\/revisions\/60884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60883"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}