NEAR Foundation Forms Nuffle Labs With $13M in Funding
Summary
NEAR Foundation has established Nuffle Labs with $13 million in funding to advance NEAR's modularity and promote decentralized development in the ecosystem. Nuffle Labs, as an independent entity, will make agile decisions to keep NEAR Modular products competitive. It will draw on strengths from the NEAR Foundation, Ethereum, and EigenLayer ecosystems to improve efficiency and resilience in the NEAR ecosystem. The funding includes a grant from the foundation and external investment from Electric Capital, Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan, and Lyrik Ventures. Nuffle Labs plans to use NEAR to provide rollups through NEAR's Data Availability (NESR DA) and Fast Finally Layer (NFFL) products.
