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US Prediction Market Platform Raises $11M ICO

Numerai (NMR), an American hedge fund and prediction market startup, was able to raise a whopping $11M when it launched Erasure through an initial coin offering (ICO).

Prediction Market Tokens

The Numeraire network has been providing blockchain services through its Ethereum (ETH)-based cryptographic tokens. Numeraire tokens function for trading predictions of markets on the platform. Founder of Numerai, Richard Craib, believes that the $11M earned from the recent ICO will be allocated for employing engineers for the decentralized area of Numerai’s marketplace. This unit is called Erasure.

Numerai Founder, Richard Craib

Numeraire’s token recently jumped 19 percent due to the announcement that Erasure will launch in the latter part of 2019. Right after the launch, Erasure will now give its users the chance to sell their investment fund predictions in the public network through a P2P system.

Assets and Markets

Numerai prediction models will handle traditional assets while Erasure will allow predictions of any asset. The Numeraire token is currently largely affected by five crypto markets such as DDEX, Bittrex, UPbit, IDEX, and Poloniex.

Just recently, Binance’s major global cryptocurrency exchange, Binance Launchpad, has completed a sale of Celer Network (CELR) tokens. In fact, it was amazing because Binance was able to earn $4 million from the sale in just a matter of 20 minutes. With Binance and other platforms as challenges, Erasure is willing to take the opportunity to beat close competitors in their own game.

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