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Home Crypto News Market NAKJI NETWORK Completes a $8.8 Million Private Round Of Fundraising

NAKJI NETWORK Completes a $8.8 Million Private Round Of Fundraising

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Los Angeles, California, 9th September, 2021,

NAKJI NETWORK, a blockchain big-data focused startup has completed a capital raise of USD $8.8M. Investors in the round include blockchain partners and venture capitalists that include Animoca Brands, CMS Holdings, Primitive Ventures, GBV, LD Capital, Rocket Fuel, One Block, Panony, and other notable investors .

This round of financing will allow Nakji to invest further in the development of its state-of-the-art information relaying protocols between a wide array of blockchains to the off-chain world, as it gears up for a public debut later this year. Nakji is founded by Allie Zhang, former lead engineer at real-time data intelligence start-up, Bottlenose, and David Kim, a former 13-year technology and management consultant at PwC and Deloitte. David and Allie possess decades worth of combined experience across incubating, building, and consulting in blockchain and big data. David also helped establish one of the first Big 4 blockchain practices at PwC in 2016.

The data layer and related infrastructure sector is one of the key components powering the entire blockchain ecosystem due to the reliance of user-facing dApps and protocols in DeFi. As the industry and on-chain activity continue to grow exponentially, the communication of data and information in the form of indexing and querying will become of utmost importance since the speed of usability relies on the transfer of information at speeds conducive to user experience.  Nakji will solve this by providing industry-breaking speeds to relay information from on to off-chain.

According to Kevin McCordic from CMS Holdings, “Nakji is on pace to become a major contributor for the indexing of Web3 data. Access to data is vital infrastructure in the blockchain space – building out the query layer is one of the final frontiers that need to be tackled for a multi-chain universe to reach its impact potential. We are confident that the Nakji team will lower the barrier to entry for projects building in this ecosystem and ultimately increase adoption on the new, decentralized web.

Yat Siu, the chairman and co-founder of Animoca Brands, said: “Nakji’s protocols relay information efficiently, safely, and quickly from blockchain to off-chain, making it one of the industry’s most promising big data start-ups and a particularly exciting investment for us. We look forward to working together as we continue to build the decentralized experiences that constitute the next generation of the Web.

In the coming months, Nakji will release a series of staged updates on the platform, sharing further designs and details on the speed and security of its relaying protocols, before allowing for developers to access APIs through its TestNet.

About Nakji Network 

Nakji aids in the relay of information from traditional blockchains to any receptor off-chain that can receive on-chain data points. It does this with industry setting speed, outpacing competitors while providing an added layer of security to ensure the safety and accuracy of data being transported.

 

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