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International Business Times
International Business Times
Business
Marvie Basilan

Shiba Inu Raises $12M Via $TREAT Token For New Layer-3 Blockchain

Shiba Inu blockchain Shytoshi Kusama Animoca Brands Crypto
Shiba Inu has raised $12 million to fund its new layer-3 blockchain. (Credit: YouTube Screenshot/ Shytoshi Kusama Official YouTube Chanel)

KEY POINTS

  • The funding will be used to build the FHE blockchain that will address key privacy and trust concerns
  • Animoca Brands and Polygon Ventures are just 2 of the new project's major backers
  • Shiba Inu's lead developer said the latest funding is a newfound "validation" for the team

Shiba Inu, a digital assets ecosystem built on the Ethereum blockchain that includes widely popular cryptocurrency $SHIB, on Monday announced it has raised a total of $12 million in a funding round through an unreleased token $TREAT to build its new layer-3 blockchain solution.

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