Today the Mina Foundation announced a $92m injection of funding to the project from some of the most prominent and respected backers in the blockchain/cryptocurrency space.
The extra funding has come from a number of backers, most notable Three Arrows Capital and FTX Ventures and will be used almost extensively to create an ecosystem for developers to build zero-knowledge web3 Apps (zkApps) with the potential to provide security and privacy for web3 applications in addition to creating bridges with other blockchains that can benefit hugely from Mina’s small size.
It’s great news for the project and positions Mina Protocol as the leading player on the road to ZK and Web3 mass adoption.
It is the first time that FTX Ventures have backed a ZK Blockchain and quite rightly shows the confidence the industry has in Mina Protocol’s team of groundbreaking developers from both Mina Foundation and O(1) Labs. Other investors included Alan Howard, Amber Group, Blockchain.com, Brevan Howard, Circle Ventures, Finality Capital Partners, Pantera, and five existing backers of the ecosystem.
We’re proud to support the amazing work the team has been doing and look forward to playing our part in keeping the community up to date with all aspects of the Mina ecosystem as it continues to grows in the future.
Let’s BUIDL, #MinaCommunity.👷— Mina Protocol (@MinaProtocol) March 17, 2022
The Mina Ecosystem has raised $92 Million dollars in a raise led by @FTX_Official and Three Arrows Capital to bolster the growth of developers in the community.
Read more here ➡️ https://t.co/NgpB30GVLe pic.twitter.com/PJqk1PEZlR
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