Secret Network Announced $400M Crypto Funding

Secret Network announced this Wednesday, January 19, through its Twitter account, one of the largest crypto ecosystem funds of $400 million, incorporating DeFiance Capital, Alameda Research, Coinfund and others.

Image about Citadel Twitter post

“Today, Secret Network is pleased to share some important announcements as part of our recently unveiled growth initiative, Shockwave, which aims to solidify our network as a critical pillar and data privacy hub for Web3”, he said via article published in his website.

The firm reported that several top-tier investment firms have taken positions on the SCRT and recently joined the Secret ecosystem as key stakeholders, including: DeFiance Capital, Alameda Research, CoinFund, and HashKey.

Similarly, it revealed a new $225 million ecosystem fund made up of contributions from 25 investors and existing ecosystem partners aimed at expanding the Secret Network’s application layer (including DeFi and NFT), network infrastructure, and tools.

Additionally, he commented on a $175 million accelerator pool (funded in SCRT) that is designed to provide non-dilutive capital, grants, and ecosystem incentives to rapidly expand user adoption.

“This news follows the launch on Monday of auctions of the highly anticipated Tarantino NFTs, a collection of seven rare NFTs issued by Quentin Tarantino on the Secret Network that have been covered in The New York Times, The Wall Street Journal, CNBC and on other places. These secret NFTs secure chapters of the original, never-before-seen, hand-written Pulp Fiction script, as well as exclusive commentary from the award-winning director and screenwriter”.

Also read: BlockchainSpace Joins Ferrum Gaming Guild Alliance

New investment

According to the company, its goals for the first half of 2022 for Shockwave are ambitious: add hundreds of thousands of new users and launch hundreds of new applications. Our mission is to ensure that Web3 applications have the data privacy guarantees and customizable privacy controls that they will require for global adoption.

“The Secret Network is the first and only mainnet layer 1 blockchain to offer privacy by default for smart contracts and applications, putting us in the ideal position to achieve this vision”, he said.

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