Investment of $4 million bolsters Limitless, triggering the debut of their Points service before their Token Generation Event.
In the rapidly expanding world of cryptocurrency, Limitless.exchange, a decentralized prediction market platform, has secured a significant funding round of $4 million. This move follows a prior $3 million pre-seed round led by 1confirmation.
The funding round saw investments from several notable entities, including Coinbase Ventures, Collider, Node Capital, Paper Ventures, Maelstrom, and Public Works. Maelstrom, which is Hayes' family office, also joined the investment.
Arthur Hayes, a well-known figure in the cryptocurrency industry, best recognized as the co-founder of BitMEX, has taken on the role of an advisor to Limitless. Hayes' involvement is expected to enhance the credibility and expertise of the platform.
Limitless focuses on enabling users to bet on short-term price movements in crypto, offering a user-friendly interface for trading. The platform has seen notable engagement, with over $250 million in bets placed so far. The addition of Arthur Hayes as an advisor is anticipated to further boost Limitless' growth and reputation in the crypto prediction market space.
The funding will also be used to launch a points program, aimed at rewarding prediction market enthusiasts who use the product, provide liquidity, and refer friends. The program is in preparation for a Token Generation Event (TGE).
Meanwhile, in other crypto news, Hungary has imposed strict regulations, causing service suspensions. The Open Platform, a unicorn in the Web3 ecosystem, with a $1 billion valuation, has also been making waves.
In Europe, Bybit has launched Bybit.eu, a MiCAR-compliant platform for European crypto users, while Bybit EU is building trust in a regulated European crypto future.
Elsewhere, Blocksquare has surpassed $200 million in tokenized real estate as the global Real World Assets (RWA) market booms.
Aster has launched 24/7 stock perpetual contracts trading with exposure to U.S. equities, and Bullbit, an AI-Powered Decentralized Derivatives Exchange for Token Creation on BNB Chain, is gaining traction.
Oasis Protocol Foundation has launched ROFL Mainnet, a Verifiable OffChain Compute Framework for AI applications. However, a word of caution: Bitdu has issued an official statement that "Bitdu Pro App" is fraudulent and unaffiliated.
As the crypto market continues to evolve, these developments highlight the ongoing innovation and investment in the sector.
Limitless.exchange, now advised by Arthur Hayes, aims to further boost their growth and reputation by using the $4 million funding for launching a points program, aimed at rewarding prediction market enthusiasts, and preparing for a Token Generation Event (TGE). Meanwhile, Hungary imposes strict crypto regulations, leading to service suspensions, contrasting the ongoing investment and innovation in the sector, such as Bybit's launch of a EU-compliant platform and Blocksquare surpassing $200 million in tokenized real estate.
