Prediction Startup Numerai Attracts $11 million during its ICO
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Numerai (RMN), a market prediction startup, just raised $11 million during its ICO.

The funds will be used to boost the launch of the Erasure project, Numerai reported yesterday through its official Twitter account.

The Numeraire network, which was launched in late 2016, provides a based a blockchain and token-based ecosystem to foster the creation of predictive models. The platform is based on the ethereum blockchain.

According Numerai founder, Richard Craib, the funds attracted during this initial coin offering (ICO) will be mainly used to hire engineers for Erasure, the decentralized unit of the Numerai marketplace.

The launch of Erasure is scheduled for this year, and once it is fully operative, it will allow users to sell their predictions to any investment fund through the peer-to-peer InterPlanetary File System (IPFS), and directly connect their crypto wallets to the market.

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