- The Root Protocol project recently closed a $10 million funding round with support from Animoca Brands, Shima Capital, CMS Holdings, and other funds.
- The funding will be used to further develop digital identity in the Web3 space.
Root Protocol, a digital identity project, has successfully raised $10 million in funding, valuing the project at $100 million.
The funding round was led by Animoca Brands, a company based in Hong Kong. The Root Protocol team announced that, within the past three months, the number of participants who completed the DID (Decentralized Identity) identification process has reached 250,000.
It’s worth noting that in January 2024, the Web3 data analysis protocol 0xScope raised $5 million. If you’re interested, the Incrypted team has prepared detailed instructions on how to interact with the 0xScope platform to potentially qualify for an upcoming drop.