Prediction Market Startup Numerai Attracts $3M
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4 June
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Prediction market startup Numerai has just completed an additional round of sales of the NMR token in which it has raised $3M, The Block reports.

Union Square Ventures, Placeholder, CoinFund, Dragonfly Capital and Numerai founder Richard Craib have led the token sale.

The company will reportedly use the funds to develop its information staking protocol Erasure. Craib said:

"This fundraising gives us a lot more money that goes directly to developing Erasure, increasing the users and letting the protocol be used all over the Internet."

DeFi Pulse says $2.1M in tokens are blocked in the Erasure protocol. Erasure is currently used as the underlying technology of Numerai's data scientist tournaments, the prediction market Erasure Quant and the information market Erasure Bay. The users of these platforms must deposit NMR or DAI tokens to post information. Users lose their tokens if the published information is not accurate.

Numerai raised last year $11M through a closed token sale led by the crypto hedge funds Paradigm and Placeholder.

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