Startup Related To Crypto Predictions Raises $11 Million
Numerai, the American startup and hedge fund that develops models for predictions of crypto prices, attracted $11 million during the ICO conducted in support of a new Erasure project. The announcement is posted on the company's Twitter.
The Numeraire network, which was created in 2016, is an ecosystem of blockchain and tokens of the same name (NMR) to encourage professionals involved in the development of predictive models in the crypto sphere. NMR tokens are created on the basis of Ethereum.
Richard Craib, the startup founder, stated in an interview with CoinDesk that the funds received from the ICO will be used to attract new technical specialists for the Erasure project. The main ICO participants were VC and Placeholder.
The development of Erasure was reported in the fall of 2018, and it is expected to be launched in 2019. With the help of the project, users will sell their forecasts to any investment fund on a public network through the InterPlanetary P2P file system (IPFS) and connect their crypto wallets directly to the Ethereum market, Craib explained.
Prediction models based on Numerai are mainly focused on traditional cryptocurrencies, and Erasure will allow making predictions regarding any digital assets.
Against the background of these events, the price of NMR tokens increased by 20%, according to CoinMarketCap. The capitalization volume of the cryptocurrency was $9.2 million, and its price was $6.83 as of March 22, 11:00 (UTC).
As previously reported, Kakao Corporation intends to raise $90 million during another ICO.