This content originally appeared on HackerNoon and was authored by Ishan Pandey
Limitless Labs, the innovative R&D network specializing in prediction markets, blockchain, and AI, has secured $3 million in upfront funding led by renowned investor 1confirmation. The funding round also saw participation from major investors such as Paper Ventures, Collider, and Public Works.
\ Founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, Limitless Labs is the driving force behind the rapidly growing prediction marketplace, Limitless. The platform has experienced explosive growth, with an 800% increase in volume last week alone, now handling over $200,000 in daily transactions. Impressively, half of its active traders engage with the platform daily, highlighting high user engagement and rapid adoption.
\ The capital infusion will accelerate Limitless's growth trajectory, supporting the rollout of new features and innovations. Among these is a decentralized underground social network that will enable users to create and manage their own prediction markets. This new platform aims to expand the user base while providing a unique avenue for individuals to build personal reputations.
\ Nick Tomaino, Founder and General Partner of 1confirmation—which is backed by industry heavyweights like Peter Thiel, Marc Andreessen, and Mark Cuban—expressed optimism about Limitless's future. "Prediction markets are poised to see trillions in volume in the coming years, and Limitless is leading the charge on Base," he commented.
\ This year has marked a significant moment for prediction markets, fueled by surging interest in events like the U.S. Presidential Election. Limitless has also witnessed increased demand for its crypto and stock markets, which operate similarly to zero days to expiry (0DTE) options in traditional finance. The community thrives on trading fast-paced markets, covering topics ranging from the arrest of Telegram founder Pavel Durov to speculation on the future of X in Brazil. Users are attracted to these markets without the need for long-term capital lock-ups.
\ Positioned at the intersection of prediction markets and social finance (SocialFi), Limitless is redefining how creators can monetize their audiences. By allowing users to create and profit from their own marketplaces, Limitless is set to usher in a wave of popular new categories.
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:::tip Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR
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This content originally appeared on HackerNoon and was authored by Ishan Pandey
Ishan Pandey | Sciencx (2024-09-18T08:51:07+00:00) Limitless Labs Secures $3M Funding from 1confirmation to Revolutionize Prediction Markets. Retrieved from https://www.scien.cx/2024/09/18/limitless-labs-secures-3m-funding-from-1confirmation-to-revolutionize-prediction-markets/
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