Quick take:
- The investment will allow Rubix to optimise growth in the Web3 space.
- It will also support Web2 to Web3 transition.
- Indian NFT platform Jupiter Meta has leveraged the Rubix blockchain.
Layer 1 blockchain protocol, Rubix, has announced that it has received a $100 million investment from alternative investing group, LDA Capital, to grow global operations, support the transition to Web3, and expand its green blockchain community.
Rubix will use the funds to increase internal operations and expand its team around the globe to support the blockchain’s ecosystem.
The new capital will also allow Rubix to optimise growth in the Web3 space, expanding education opportunities, policy development, and Web2 to Web3 transition. It will also enable partners to build various apps on the platform, including those that address social and environmental issues.
“We’re thrilled with this partnership and are so glad that LDA Capital recognizes the value of the blockchain for building community and expanding innovation as the web evolves,” said KC Reddy, founder & chief architect of Rubix. “Rubix is, first and foremost, a community; this investment will allow us to grow that community and expand our green blockchain as a shared platform upon which partners can build any number of solutions. Our unique architecture makes Web 3 and even Web 5 accessible and attainable for anyone leaning into decentralization.”
Rubix combines proof-of-work and proof-of-stake to become a Proof-of-Pledge blockchain that claims to be 100% carbon-free and a cleaner alternative to the mining-intensive Proof-of-Work (PoW) or unreliable Proof-of-Stake (PoS) methods.
In comparison to one Ethereum transaction, which consumes 136.35 kWh, 100,000 Rubix transactions consume 0.174 kWh.
“Rubix is a gamechanger for international transactions. It’s exactly the type of innovative disruptor we look to partner with,” said Warren P. Baker III, managing partner at LDA Capital. “What sets the Rubix blockchain apart is its environmentally friendly crypto framework and focus on leveraging the Web3 technology to address some of the biggest issues society faces today.”
Indian NFT marketplace, Jupiter Meta, is backed by the Rubix blockchain, which offers the platform security and zero gas fees. Rubix also enables developers to build different products on Web3 including proptech, enabling the tokenising of real estate in the metaverse and in real life. Developers can also build decentralised DNS/KYC and multi-factor authentication solutions on Rubix.
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