Cryptocurrency News

China-based Rangers Protocol raises $63M through private equity round

The newly rebranded Rangers Protocol has raised $63 million through private equity to expand its high-performance blockchain protocol, potentially a sign that the Chinese blockchain venture is growing despite a Complete ban on cryptocurrency trading in the country.

Shanghai-based Rangers Protocol describes itself as a provider of a “virtual world blockchain infrastructure,” which allows entrepreneurs and creators to build on top of the platform in a permissionless environment. The Rangers Protocol consists of a cross-chain protocol, a non-fungible token platform, and the Ethereum Virtual Machine system.

An impressive list of venture funds participated in the investment round, including Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Researchhandjob AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital, Incuba Alpha Holdings and Consensus Lab, etc. These Venture Firms Are Behind Some of the Biggest Growth in Crypto.

The protocol upgrade that accompanies the rebranding includes a new . also includes NFT Forum. The team behind Rangers Protocol believes that “the NFT market will explode soon.” Mixmarvel, an incubator founded by Rangers Protocol, believes the NFT market will eventually scale to include “large-scale human collaboration.” As Cointelegraph reported, NFT market expected to double by October As the demand for digital collectibles continues to grow.

The company plans to set up several community organizations in the near future, including the Ecosystem Governance Foundation, the Developer Community, and the Pioneer Investment Alliance. These communities will support a “fair and open environment for leading developers,” the company said.