Trust Machines raises $150 million to bring NFTs and dApps to Bitcoin
Trust Machines, founded by Stacks founder Muneeb Ali and Princeton University computer science professor JP Singh, has raised $150 million.
Trust Machines wants to grow the Bitcoin economy
The company raised $150 million from venture capital firms Breyer Capital, Digital Currency Group, GoldenTree, Hivemind, Union Square Ventures, and others who participated in the funding round. Trust Machines' goal is to create the largest ecosystem of Bitcoin applications and grow the Bitcoin economy with fresh capital.Commenting on the funding round, Jim Breyer, founder, and CEO of Breyer Capital said that his company believes that bitcoin can be more than just a store of value and become a more productive asset in the blockchain economy. The company will begin lending, NFTs, and other applications. And with this announcement, 11 new positions have opened up at Trust Machines, from programmers to designers to head of talent.
What Trust Machines?
Trust Machine's mission is similar to Muneeb Ali's work at Stacks, a company building a smart-contract layer on top of the Bitcoin blockchain that adds smart-contract apps to the Bitcoin ecosystem. He believes Trust Machines could unlock the power of the Bitcoin blockchain ecosystem by introducing developer apps (dApps), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs) to Bitcoin.Co-founder Ali said it's time to focus on unlocking the next level of apps and technologies on bitcoin to build on the solid foundation the pioneering cryptocurrency has laid. "enhancing the platforms for speed, scale, and functionality and making Bitcoin apps a reality for hundreds of millions of users,"
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