Market Places $ 11 Million

Numerai Prediction Market Places $ 11 Million

Prediction marketplace platform startup Numerai has closed a $ 11 million round of fundraising led by venture capital firms Paradigm and Placeholder. Numerai’s offer differs from other similar campaigns by the fact that the project managed to attract venture funding exclusively through the closed sale of its NMR tokens, which were first distributed through the airdrop in 2017, without transferring a stake in the business, writes CoinDesk.

According to Numerai founder Richard Craib, every week about 1,000 people use NMR tokens to buy and sell prediction markets on the project’s marketplace..

Crab said that the funding received will be used primarily to attract developers to work on a decentralized Erasure platform, thanks to which anyone can download a variety of markets, not only related to stocks and traditional assets, which the platform is focused on present time.

Numerai Prediction Market Places $ 11 Million Prediction Marketplace Prediction market startup Numerai has closed a $ 11 million fundraising round led by venture capital firms Paradigm and Placeholder. What sets Numerai apart from other campaigns of this kind is the fact that the project managed to attract venture funding solely through the closed sale of its NMR tokens, which were first distributed through the airdrop in 2017, without transferring a stake in the business, writes CoinDesk.

“As more people buy and sell data to each other, big investors like Placeholder will play a smaller role. Then we will gradually be able to start going out of our positions, while the network will switch to self-financing, ”said Placeholder partner Joel Monegro.

Paradigm co-founder Fred Herom said Numerai caught their attention with a proven practice of direct data monetization. According to Craib, after Erasure will launch later in this year, users will be able to directly connect their crypto wallets to the Ethereum-based marketplace.

Numerai Prediction Market Places $ 11 Million Prediction Marketplace Prediction market startup Numerai has closed a $ 11 million fundraising round led by venture capital firms Paradigm and Placeholder. What sets Numerai apart from other campaigns of this kind is the fact that the project managed to attract venture funding solely through the closed sale of its NMR tokens, which were first distributed through the airdrop in 2017, without transferring a stake in the business, writes CoinDesk.

Now the NMR token is used to confirm the reputation of users and allows them to motivate them to post meaningful predictions. If the predictions turn out to be wrong, the tokens are burned out. With the launch of Erasure, the ability of users to sell forecasts to interested participants in the system will expand.

“I believe that prediction markets will become a natural use for cryptocurrencies,” added Craib..

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