Secret Network, which enables the development of privacy-focused games and projects, announced on its official blog page that it received a total of 400 million dollars in funding from over 25 institutions.
These funds were reportedly raised by major companies such as DeFiance Capital, Alameda Research, CoinFund, and HashKey by purchasing the project’s native token, SCRT.
Secret Network’s $400 million fundraising $225 million remaining part of the ecosystem fund 175 million dollars allocated to the accelerator pool.
Aiming to expand the application layer, infrastructure and tools of the network with the ecosystem fund, Secret With its accelerator pool, it will also provide capital, grants and ecosystem incentives to increase user adoption more quickly.
Quentin Tarantino, famous American film directorwhich week ago He made a name for himself when he chose Secret Network for the Pulp Fiction NFT collection. in NFTs, Pulp Fiction scenario It was stated that the episodes included never-before-seen parts and special interpretations of Tarantino.
With the aim of privacy to Monero (XMR) Secret Network, a similar blockchain system, only not for money transfer but for the entire Web3 ecosystem in general It is expected to provide confidentiality. In traditional blockchain systems, there are many traces that show users from which account to transfer the crypto money.
described 400 million dollars The fund had little impact on the price of the Secret Network’s token, SCRT. SCRT % according to CoinMartketCap data at the time of writingdown 1.14 at $8.85 is being traded.