Shiba Inu Gains $12 Million for New Blockchain Expansion

Shiba Inu's new blockchain project secures $12 million investment from key crypto venture capitalists. This investment supports its layer 3 blockchain development, enhancing the Shiba Inu cryptocurrency ecosystem, which already includes the SHIB token. Funding was raised through a pre-sale of the yet-to-launch TREAT token, attracting contributions from notable firms such as Polygon Ventures, Mechanism Capital, and Animoca Brands.

These investments reflect confidence in the project and its potential to innovate within the crypto space. The upcoming blockchain will feature advanced security with Fully Homomorphic Encryption, ensuring high privacy by allowing calculations on encrypted data. Scheduled for a testnet launch in late 2024, it aims for a mainnet release after thorough testing to confirm its robustness and efficiency.

With a valuation possibly reaching $200 million, the project's funding stages underscore its growing market significance and the broadening of Shiba Inu's scope. This blockchain initiative represents a significant leap towards enriching its capabilities and standing in the digital currency market.