September 17, 2024
Limitless Labs, a newcomer to the prediction market industry, has secured $3 million in pre-seed funding, led by early-stage venture fund 1confirmation. The funding round also saw participation from Paper Ventures, Collider, and Public Works, according to CJ Hetherington, co-founder and CEO of Limitless Labs. The company is developing its market on Base, the layer-2 blockchain network created by Coinbase.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor |
---|---|---|---|---|
Limitless | $3M | September 17, 2024 | Seed Round | 1confirmation |
This funding comes amid a surge in election betting, especially in cryptocurrency, with platforms like Polymarket leading the way. However, Hetherington noted that Limitless Labs, which has an eight-person team and has been developing its markets for about six months, is not focused on election betting. Instead, the company specializes in markets that expire quickly, often related to the price of a stock or cryptocurrency at the end of a trading day.
For instance, its largest market by volume recently involved betting on whether Coinbase’s stock would close above $175 by 4 p.m. Eastern time. Hetherington compared these to the zero day to expiration (0DTE) options popular in traditional finance.
About Limitless
Limitless Exchange is a platform that allows users to trade cryptocurrencies quickly and efficiently. It offers a seamless experience for swapping various digital assets with no upper limit on the amount you can exchange. The platform is designed to provide the best rates and lowest fees, making it accessible for both small and large transactions. With a focus on security and ease of use, Limitless Exchange aims to simplify the process of cryptocurrency trading for everyone.
Website: https://limitless.exchange/
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About Investor
Investor: 1confirmation
1confirmation is an early-stage venture fund founded by Nick Tomaino in 2017. It focuses on supporting exceptional founders who are driving the decentralization of the web and society. The fund invests in blockchain and cryptocurrency projects, helping to fuel innovation in these areas. Backed by notable investors like Peter Thiel, Marc Andreessen, and Mark Cuban, 1confirmation aims to empower the next generation of decentralized technologies.
Location: Palo Alto, CA
Website: https://www.1confirmation.com/
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A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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