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Assembly announces $100M capital raise, receives praise from Iota co-founder Dominik Schiener
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On Friday, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced it had raised $100 million from private investors, including LD Capital, HyperChain Capital and Huobi Ventures.
The project stated that the funds will be used to accelerate the development of decentralized finance protocols, nonfungible tokens (NFTs) and play-to-earn crypto games.
Iota is a blockchain designed for facilitating Internet-of-Things transactions. Its proprietary technology consists of a system of decentralized acyclic graphs that can connect to one another in multiple vectors as opposed to in-series as with a regular blockchain. As a result, one new block can validate two other blocks, leading to self-sustainable
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