OKX Blockdream Ventures Partners with Nym
OKX Blockdream Ventures, the investment arm of the leading global cryptocurrency trading platform OKX, has announced a partnership with the Nym Innovation Fund. OKX Blockdream Ventures will allocate investment from its $100 million fund to provide services and resources for high-quality projects in the Nym ecosystem.
Nym Technologies is a Swiss privacy startup that shields online activity from surveillance using a mixnet. The Nym Innovation Fund has secured $300 million in commitments from a range of venture capital investors, including Andreessen Horowitz (a16z) and Polychain.
OKX Blockdream Ventures will provide support for projects on the Nym ecosystem in a range of ways.
First, it will help startups identify and improve products and services. It will also assist entrepreneurs in establishing meaningful strategic partnerships and connecting with potential customers, investors, consultants, and buyers.
Second, the investment arm will provide entrepreneurs with essential resources around the world. From mainland China to Silicon Valley; Southeast Asia to Latin America, OKX Blockdream Ventures will harness its global network of media, influencers and communities.
Third, it will provide comprehensive support for projects that have secured investment by doing things like promoting them on trading platforms. Excellent projects will be recommended to OKX, and will be given the opportunity to access OKX products and services, publicity resources, user traffic data, brand endorsements, and more.
OKX Blockdream Ventures is an investment institution under the leading global cryptocurrency trading platform OKX. It is focused on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain innovation and promoting the development of the global blockchain industry. The initial capital of OKX Blockdream Ventures is USD 100 million. It brings global resources and historical experience to blockchain projects and is committed to helping entrepreneurs who are contributing to the development of the blockchain industry build great companies..
“We are delighted to partner with the Nym Innovation Fund and look forward to working together to empower high-quality projects while supporting their development,” said Dora Yue, Founder of OKX Blockdream Ventures. “OKX Blockdream Ventures looks forward to providing continuous support to companies built on Nym. We will collaborate with these companies to create value for the blockchain industry while continuing to expand the sector and its user volume.”
“Nym is a ‘decentralized mixing network’ which uses blockchain technology to mix the so-called packets — containing potentially sensitive metadata — generated by all internet transactions, including cryptocurrency trades,” said Nym CEO Harry Halpin. “We are excited to have OKX Blockdream Ventures as our new strategic partner. We want to incentivize open source and decentralized developers who we don’t know to start building on this network.”
Nym’s platform has a potentially wide range of use cases — not all of them in crypto. It could, for example, be used by messaging apps to scramble communication-related packets. The company raised $13 million in a round led by a16z in November last year, bringing its valuation to $270 million.