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After a significant financing round, Rocket Protocol has been relaunched as Rangers Protocol. Pantera, Huobi Ventures Blockchain Fund, and Alameda Research are among those that have contributed.
Following its newest private equity investment, the newly renamed Rangers Protocol has a valuation of $63 million, as the high-performance blockchain protocol seeks to expand into other areas of the digital asset market.
The Asia-based Rangers Protocol describes itself as a provider of “virtual worlds blockchain infrastructure,” which allows entrepreneurs and creators to build on top of the platform in a permissionless environment. Rangers Protocol includes a cross-chain protocol, nonfungible token protocol and Ethereum Virtual Machine compatible system.
Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital, Incuba Alpha Holdings, and Consensus Lab were among the venture funds that participated in the investment round. These venture companies are behind some of the most significant crypto fundraisers.
A new NFT platform was incorporated in the protocol upgrade that accompanied the rebranding. Rangers Protocol’s staff expects the “NFT market will explode soon.” Rangers Protocol’s MixMarvel incubator expects the NFT industry will ultimately expand to incorporate “large-scale human collaboration.” According to Cointelegraph, the NFT market is expected to treble by October as demand for digital collectibles grows.
In the near future, the corporation intends to establish various community groups, including the Ecosystem Governance Foundation, Developer Community, and Pioneer Investment Alliance.