Privacy-focused project Nym has raised $300M from a number of venture capital firms to a fund focused on funding ecosystem developers.
The team has received funds from Polychain, Greenfield One, Huobi Incubator, Tioga Capital, Eden Block, NGC Ventures, HashKey Capital, Figment, Fenbushi Capital, OKX Blockdream Ventures, Tayssir Capital, KR1, Lemniscap and a16z.
The Nym Foundation will distribute funding as needed. Grants will range from $50,000 to “several million dollars”. Applications will begin in May 2022.
According to the company CEO:
“$300 million is a drop in the ocean compared to the infinite sums of money in Silicon Valley and nation states that benefit from mass surveillance.
The company, which was founded 4 years ago, provides the infrastructure to ensure the privacy of personal data. The nodes of an open source decentralized platform (mixnet) “mix” user traffic, excluding the disclosure of metadata. They are rewarded in native NYM tokens for doing so.
