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Modular Blockchain Project Nubit Secures $8 Million in Seed Funding Round

05/06/2024 22:18

According to BlockBeats, modular blockchain project Nubit has successfully raised $8 million in a seed funding round. The round was led by Polychain Capital, with participation from other institutional investors including Nomad Capital, Spartan Group, L2IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca, and Mask Network. This brings Nubit's total funding to $12 million. Nubit is a provider of modular blockchain solutions, dedicated to enhancing the scalability of blockchain. It offers a secure and scalable data availability solution for the Bitcoin ecosystem. The Nubit data availability layer has been deeply integrated with projects such as Babylon, BounceBit, Unisat, and Merlin Chain. It is also committed to developing a programmable, modular, trustless execution layer for meta-protocols like BRC-20 and Runes. In recent times, Nubit has expanded its support for all major Layer 2 frameworks, including Polygon CDK, OP Stack, Arbitrum Orbit, and Scroll. In April 2024, Nubit launched its Pre-Alpha testnet, attracting over 150,000 users, deploying 5,294 modular services, and processing over 560,000 transactions. The team plans to launch the Alpha testnet in June, with the mainnet expected to go live later this year.

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