Hashed Raises $120 Million to Fuel New Blockchain Innovations in the Protocol Economy

The Big Bucks in Blockchain

In a monumental financing round, South Korea’s Hashed, a heavyweight in the world of crypto asset management, has gathered a whopping $120 million. This funding aims to propel advancements in the enthralling realm known as the “protocol economy.” More than just a buzzword, this term encapsulates the burgeoning platforms and applications shaping our digital future.

Who’s Behind the Cash?

Now, what’s a hefty bank of cash without a mystery element? Though Hashed Ventures Inc.—the vehicle behind this nine-figure endeavor—has kept its backers shrouded, hints suggest involvement from some of South Korea’s tech titans. If TV shows taught us anything, it’s that the bigger the secret, the juicier the plot!

Investing in the Future

The new fund isn’t just a one-trick pony; Hashed is on a mission to invest in both domestic and international startups eager to make waves in the protocol economy. With their eye on technology firms in the blockchain sphere, Hashed is ready to harness this transformative technology. Simon Kim, the company’s CEO, mentioned:

“We are really excited to discover teams in the crypto space and we look forward to working with them.”

Building a Diverse Portfolio

Diversity is key, and Hashed seems to get that. Their current investment portfolio spans various sectors within the blockchain world, including:

• Blockchain platforms
• Financial infrastructures
• Applications
• Pick-and-shovel businesses (think the areas of supporting services)
• Publishing ventures

From Ethereum to Kyber Network, they have their fingers in quite a few pies. It’s like a buffet, but instead of food, they’re loading up on future tech!

South Korea’s Crypto Hotspot

Despite facing challenges, including a crackdown on initial coin offerings and regulatory uncertainties, South Korea has blossomed into a bright spot for blockchain development and the digital asset market. The recent success of local crypto advocates in postponing new tax laws until 2022 only adds to this favorable scenario, providing breathing room for local innovators.

Conclusion: A Hopeful Future

While 2020 tossed and turned like a rollercoaster ride, it demonstrated blockchain’s resilience and unwavering growth potential. As Hashed gears up to invest in the next generation of innovators in this exciting field, the anticipation is electric!