NEAR Protocol Raises $150 Million For Web3 Development


The Near Protocol is known for having the mission and vision of being a hub for millions of people for the Web3 revolution. It plans to make Web3 applications easily accessible to a lot of consumers as well as make them as user-friendly as possible. They aim to make a new world by simplifying this new interaction of the World Wide Web.

The NEAR Foundation Raises $150 Million

To help ensure that their mission and vision become a reality, the NEAR Foundation has secured funding to become the next hub of web3 development. The foundation has secured nearly $150 million through token sales led by Three-Arrows Capital and other partners like Dragonfly Capital, Mechanism Capital, Alameda, Jump, Circle Ventures, and many more. 

NEAR Token Sale

Marieke Flament the current CEO of the NEAR Foundation says that they want to create a world that is more in tune with Web 3. For those who don’t know Web3, it simply refers to the new iteration of the internet which are decentralized apps running on blockchains.

But this doesn’t stop there because NEAR has also granted $800 million grant funds for its projects, $350 million for DeFi or decentralized finance, as well $450 million for web3 startups and ecosystems. 

Marieke Flament hopes that during her time the platform will be able to decentralize as much as possible so that her job of leadership is no longer needed. But that will take a lot of time and effort so, in the meantime, FIlamen is hoping to make web3 more accessible to consumers around the world. 


The Near Foundation is relatively new compared to other blockchains ever since its inception in 2020. However, it has a big vision that requires a lot of work and cooperation from other blockchains and partners. This grand vision and mission could be the reason why the blockchain is able to gather a lot of funding in so little time.

We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.


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