ARPA Network Secures $6M in Funding for Product Expansion
May 31, 2024, 3:37 pm
ARPA Network, a cutting-edge company based in Singapore that specializes in decentralized secure computation, has recently announced a significant milestone by securing $6M in funding. This funding will be instrumental in supporting the company's ambitious plans for product expansion in the realms of fully on-chain gaming, Autonomous Worlds (AW), and cryptographic AI.
The funding round was led by prominent investors including Nomura’s Laser Digital and DeFiance Capital, with additional support from Animoca Ventures, Metrics Ventures, ArkStream Capital, and Trinito. This strong backing from industry leaders underscores the confidence in ARPA Network's innovative approach to improving the fairness, security, and privacy of blockchains.
ARPA Network's core offering is its decentralized secure computation network, which is designed to enhance the security and privacy of blockchain transactions. The company's threshold BLS signature network serves as the backbone for various applications such as verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains.
In addition to the recent funding round, ARPA Network has also received backing from other notable entities including Binance Labs, Arrington Capital, and DWF. This support from a diverse range of investors further validates ARPA Network's position as a key player in the blockchain industry.
The company's co-founder, Felix Xu, expressed excitement about the upcoming product launches that will be made possible by this funding. One of the highlights is the launch of DEAR, a mobile fully on-chain game that promises to revolutionize the gaming experience through blockchain technology. ARPA Network is also collaborating with leading AI institutions to explore the potential of cryptographic AI for applications such as facial recognition using zero-knowledge machine learning (ZKML).
DEAR, ARPA Network's first foray into fully on-chain gaming, is a smart-contract-based game that challenges players to nurture and shape a digital lifeform through interactions. The game leverages the capabilities of blockchain technology to create a unique and engaging gaming experience that explores the potential of smart contracts and community interactions.
Furthermore, ARPA Network is actively researching the intersection of cryptography and AI to expand the capabilities of blockchain technology and lower the barriers to mass adoption. The team is working on developing on-chain privacy-preserving biometric technologies that will provide users with secure access to the blockchain. Collaborative research projects in ZKML with other leading researchers are also in the pipeline.
Industry leaders such as Jez Mohideen, CEO of Laser Digital, and Arthur Cheong, Founder & CIO of DeFiance Capital, have expressed their support for ARPA Network's initiatives in on-chain gaming and cryptographic AI. They believe that these technologies have the potential to transform the blockchain landscape and make blockchain applications more accessible and impactful across various industries.
A portion of the funding will be allocated to expanding the customer base for ARPA Randcast, a verifiable RNG that offers enhanced security and efficiency for applications such as gaming, lotteries, NFT minting, and key generation. With over 15 dapp customers already using Randcast on platforms like Ethereum, Redstone, Optimism, and more, the technology is poised to become a key player in the blockchain ecosystem.
In conclusion, ARPA Network's recent funding success is a testament to the company's innovative approach to decentralized secure computation. With a strong focus on product expansion in fully on-chain gaming and cryptographic AI, ARPA Network is well-positioned to drive significant advancements in the blockchain industry and pave the way for a more secure and privacy-focused digital future.
The funding round was led by prominent investors including Nomura’s Laser Digital and DeFiance Capital, with additional support from Animoca Ventures, Metrics Ventures, ArkStream Capital, and Trinito. This strong backing from industry leaders underscores the confidence in ARPA Network's innovative approach to improving the fairness, security, and privacy of blockchains.
ARPA Network's core offering is its decentralized secure computation network, which is designed to enhance the security and privacy of blockchain transactions. The company's threshold BLS signature network serves as the backbone for various applications such as verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains.
In addition to the recent funding round, ARPA Network has also received backing from other notable entities including Binance Labs, Arrington Capital, and DWF. This support from a diverse range of investors further validates ARPA Network's position as a key player in the blockchain industry.
The company's co-founder, Felix Xu, expressed excitement about the upcoming product launches that will be made possible by this funding. One of the highlights is the launch of DEAR, a mobile fully on-chain game that promises to revolutionize the gaming experience through blockchain technology. ARPA Network is also collaborating with leading AI institutions to explore the potential of cryptographic AI for applications such as facial recognition using zero-knowledge machine learning (ZKML).
DEAR, ARPA Network's first foray into fully on-chain gaming, is a smart-contract-based game that challenges players to nurture and shape a digital lifeform through interactions. The game leverages the capabilities of blockchain technology to create a unique and engaging gaming experience that explores the potential of smart contracts and community interactions.
Furthermore, ARPA Network is actively researching the intersection of cryptography and AI to expand the capabilities of blockchain technology and lower the barriers to mass adoption. The team is working on developing on-chain privacy-preserving biometric technologies that will provide users with secure access to the blockchain. Collaborative research projects in ZKML with other leading researchers are also in the pipeline.
Industry leaders such as Jez Mohideen, CEO of Laser Digital, and Arthur Cheong, Founder & CIO of DeFiance Capital, have expressed their support for ARPA Network's initiatives in on-chain gaming and cryptographic AI. They believe that these technologies have the potential to transform the blockchain landscape and make blockchain applications more accessible and impactful across various industries.
A portion of the funding will be allocated to expanding the customer base for ARPA Randcast, a verifiable RNG that offers enhanced security and efficiency for applications such as gaming, lotteries, NFT minting, and key generation. With over 15 dapp customers already using Randcast on platforms like Ethereum, Redstone, Optimism, and more, the technology is poised to become a key player in the blockchain ecosystem.
In conclusion, ARPA Network's recent funding success is a testament to the company's innovative approach to decentralized secure computation. With a strong focus on product expansion in fully on-chain gaming and cryptographic AI, ARPA Network is well-positioned to drive significant advancements in the blockchain industry and pave the way for a more secure and privacy-focused digital future.