Numerai, a hedge fund strategy competition platform, received $3 million in IC0 financing, with Placeholder and Union Square participating

Numerai is a startup company, known for holding professional data tournaments and finding the best trading strategy for its hedge funds. The company completed 3 million US dollars of financing through IC0, and companies such as Placeholder and Union Square participated in the investment.

Numerai said the new funds will be used to support the development of its information security agreement, which has nothing to do with the company’s hedge fund business. Buyers of the token include Union Square Ventures, CoinFund, Dragonfly Capital and Numerai founder Richard Craib. 

According to DeFi Pulse statistics, a total of US$2.1 million worth of NMR tokens are locked in the agreement. These tokens are currently used as the Erasure Quantde stock prediction market and Erasure Bay information market. Users must use NMR or DAI as collateral before publishing information. If the information they provide is deemed inaccurate, these mortgages will be confiscated. Erasure Bay is the latest project launched by Numerai in March. Although users can only submit predictions related to the stock market before, they can exchange any information through Erasure Bay.

Numerai conducted an IC0 last year, raising $11 million from Paradigm and Placeholder. “This is actually a continuation, and in the last round of financing, part of the money went to the Numerai hedge fund. So this is actually a B-round investment like Erasure.” Richard Craib., the company’s founder, said.

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