The Limitless startup from co-founder and former CEO of Reface Roman Mogilny has received new funding of $4 million. The company is creating its own cryptocurrency «prediction market», which resembles the American platform Polymarket.
The Limitless startup from co-founder and former CEO of Reface Roman Mogilny has received new funding of $4 million. The company is creating its own cryptocurrency «prediction market», which resembles the American platform Polymarket.
According to Scroll.Media, the volume of the new round amounted to $4 million. Coinbase Ventures, 1confirmation, Maelstrom, Collider, Node Capital, Paper Ventures, Public Works, and Punk DAO joined it.
Limitless' valuation is not disclosed, but this is not the project’s first investment. Last fall, it was reported that it had raised $3 million.
The startup is creating an event betting platform that allows users to place bets against each other, which sets it apart from traditional bookmakers.
«Limitless allows you to trade financial forecasts, where contract prices reflect market confidence — 72 cents means 72% probability. You earn $1 per contract if the forecast is correct,» the service description says.
The company advises choosing markets that match the user’s expertise. Currently, the platform is dominated by financial forecasts, for example, on the exchange rates of popular cryptocurrencies or egg prices. However, there are also contracts for sports and political events.
Along with raising the round, Limitless announced an update to the application, as well as preparations for the upcoming TGE (token generation event).
Recall that last fall , FBI agents visited the Polymarket CEO and searched him. Bloomberg noted that Polymarket’s popularity skyrocketed ahead of the November 5 US presidential election, as the platform advertised itself as a more accurate predictor of political outcomes than traditional polls.
