Nibiru Foundation Unveils Venture Arm for Web3 Project Support

[PRESS RELEASE – Cayman Islands, Grand Cayman, October 2nd, 2024]

The Nibiru Foundation has unveiled Nibiru Ventures, a dedicated venture arm designed to support blockchain initiatives that are natively developed within the Nibiru ecosystem. By providing funding and strategic guidance, Nibiru Ventures aims to nurture the next wave of developers and assist in bringing their application ideas to fruition.

While product and operational support are crucial, access to capital introductions and financial backing has become the most sought-after resource from founders creating applications. Whether pursuing multi-chain endeavors or focusing solely on Nibiru, the cost of product integration often entails significant developer time and associated salaries.

“Nibiru Ventures was established to help ecosystem dApp founders tackle their challenges and broaden the range of services that Nibiru offers, providing upfront investment and comprehensive support to expedite their projects,” stated Jonathan Chang, COO of Nibiru Chain.

Chang highlighted that Nibiru Ventures aims to alleviate the initial risks linked to integrating an application within a new chain while promoting harmony with Nibiru and not imposing any exclusivity to the chain. Additionally, the team is available to offer expertise on entity formation, pitching, fundraising, market entry strategies, and technical support.

Investment Strategy of Nibiru Ventures

Although ideas in the Web3 realm are plentiful, achieving widespread adoption necessitates applications that provide real utility. Nibiru Ventures concentrates on backing consumer-oriented applications that inherently foster substantial interest and involvement, as opposed to more abstract infrastructure projects.

Investments typically target pre-seed and seed-stage rounds, prioritizing those with a rapid time-to-market. Key focus areas include innovative models for decentralized exchanges (DEXs), lending platforms, derivatives, and structured product vaults.

“For Nibiru Ventures, these sectors represent particularly promising opportunities due to their alignment with historical adoption trends, similarities to successful Web2 applications, and a strong foundation of existing technology for further development,” explained Unique Divine, co-founder of Nibiru.

So far, one of the notable investments from Nibiru Ventures has been in LayerBank, a decentralized multi-chain lending platform aiming to establish a liquidity hub across EVM-compatible Layer 2 and rollup networks. With over $675 million USD in total value locked (TVL) and potential for further growth, LayerBank plans to launch cross-chain lending functionalities in Q4 2024. This advancement will unify fragmented liquidity from various Layer 2s into a single liquidity pool.

For more information about the application process for Nibiru Ventures and to submit a funding request, readers can visit the application form. By applying, projects can seize the chance to be part of a meticulously selected portfolio. Nibiru Ventures aims to collaborate with innovative founders and teams to foster positive advancements in Web3.

About Nibiru

Nibiru Chain is a smart contract ecosystem featuring a high-performance, EVM-equivalent execution layer (Nibiru EVM). The Nibiru blockchain is built to satisfy the increasing demand for adaptable, scalable, and user-friendly Web3 applications. Having secured $20.5 million through strategic and seed funding rounds, Nibiru is supported by notable investors, including NGC Ventures, HashKey Capital, Kraken Ventures, and Tribe Capital.