- Successful Completion of Pre-Seed Round
- Growing Interest in Prediction Markets
- Future Development and New Products
Limitless Labs, the R&D network behind the prediction market platform Limitless, has announced the successful closure of a pre-seed round, raising $3M in a round led by venture capital firm 1confirmation.
Successful Completion of Pre-Seed Round
Limitless Labs successfully raised $3 million in a pre-seed funding round led by venture capital firm 1confirmation. The firm, renowned for its expertise in prediction markets, is backed by tech veterans like Peter Thiel, Marc Andreessen, and Mark Cuban. Other participating investors included Paper Ventures, Collider, and Public Works.
Growing Interest in Prediction Markets
The completion of the pre-seed raise coincides with rapid growth on the Limitless platform, which has seen an 800% increase in volume over the past week, now processing more than $200K in daily transactions. Approximately 50% of monthly active traders on Limitless engage with the platform daily. Nick Tomaino, Founder and General Partner at 1confirmation commented: “I believe prediction markets will see trillions of volume in coming years and love what Limitless is doing on Base.”
Future Development and New Products
Funding from 1confirmation will be used to accelerate development of the Limitless platform and launch new products and features, including a novel decentralized social network. This will enable users to create and participate in their own prediction markets and grow their reputation. Limitless has also seen significant demand for its daily crypto and stock markets, which operate similarly to 0DTE (zero days to expiry) options in traditional finance. These shorter time horizon markets appeal to users who do not wish to lock up capital for extended periods.
Limitless operates at the intersection of prediction markets and SocialFi, allowing creators to monetize their audiences in novel ways. Users can create their markets and earn trading fees, which is expected to result in a surge of new popular market categories.
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