market startup and hedge fund Numerai () has raised $11 million in an initial coin offering () to launch its project Erasure, Numerai on March 21.
in late 2016, Numeraire network provides a and -based ecosystem for incentivizing data scientists to create predictive models. Based on the () , Numeraire are used in market predictions on the startup’s platform.
Numerai founder Richard Craib said that the funds from the recent ICO will be mostly spent on hiring engineers for Erasure, the decentralized unit of Numerai’s marketplace, Coindesk .
in October 2018,Erasure is reportedly scheduled to launch later in 2019. Once launched, Erasure will allow users to sell their predictions to any investment fund in the public network via the peer-to-peer InterPlanetary File System (), and directly connect their crypto wallets to the -based marketplace, Craib told Coindesk.
While Numerai-based prediction models are mostly focused on traditional assets at the current stage, the launch of Erasure will enable predictions on any asset, Craib added.
The ICO round was reportedly led by VC and private equity firm Placeholder, and crypto investment company Paradigm, founded by co-founder Fred Ehrsam.
Following the , the price of the Nomeraire almost 19 percent, at $5.77 at press time, according to data from CoinMarketCap. The is to traders on five crypto markets: Bittrex, UPbit, Poloniex, DDEX, and IDEX, and has a market capitalization of $7.7 million.
Recently, Launchpad, the platform of major global crypto exchange , a $4 million of Celer Network (CELR) in under 20 minutes.
Published at Fri, 22 Mar 2019 00:17:19 +0000
