Venue One closes $3.4M Financing

Venue One
3 min readJan 19, 2022

Revolutionising decentralized prediction markets on Algorand

Venue One is thrilled to announce the completion of a total $3.4M seed and private rounds of financing led by Borderless Capital and other key players in the digital assets ecosystem. Both rounds were oversubscribed with substantial demand from institutional investors, DAOs and angel investors. We are humbled by the strong support of our investors on our joint vision for a new generation prediction protocol built on top of the fast, trilemma solving Algorand blockchain.

We welcome the following investment partners to Venue One:

The Venue One predictions protocol is non-custodial, decentralised, fast and global. We have been very busy building, so a transparent update on our progress given the delay on our original roadmap is in order:

Done ✔︎

  • Core tech stack fully developed including smart contracts finished in October 2021.
  • In-house development of the necessary Algorand blockchain specific infrastructure : Oracles & Blockchain Indexer. We are looking forward to collaborating with other upcoming projects on these areas to further decentralize the protocol.
  • Integration with third party password-less onboarding providers has been a major roadblock which has been finally solved this month.
  • Smart contracts successfully audited in November 2021 by an experienced team of professionals with more than 20 years of information security experience and an average of 6 years working in decentralized systems security.
  • Seed & Private Financing rounds completed by December 2021.

Coming up ➡︎

  • Testnet launch Feb 22
  • Mainnet launch
  • Community AMAs
  • Community, Beta Tester and Early supporter $VENO airdrops
  • Strategic & Community round
  • TGE / IDO / $VENO token listing

We will be updating our website to reflect the design language of our UI and updating the project roadmap. We are big believers in Algorand and its community and despite unfortunate delays faced by a lot of developers like us, we will continue to focus on the long term signal in our ecosystem rather than the short term noise in crypto and keep building.

“We are excited to join Venue.One as the lead investor in both the seed and private rounds. Traditional predictions platforms are running on legacy technology and they are ready to be disrupted; blockchain can bring transparency to prediction markets and can democratize the access for everyone to monetize their views and expertise; Algorand is just the perfect core layer to build this on top of.”

- David Garcia, CEO and Managing Partner of Borderless Capital

“Venue One is uniquely positioned to revolutionize the prediction markets space by not only harnessing the power of Algorand blockchain with its instant finality and extremely low transaction cost but also by addressing many key issues that limit the current market leaders. We are excited to become an early backer of Venue One and together we are poised to bring adoption from the traditional gaming space to converge on Venue One’s decentralized digital prediction protocol.”

- Jenny Yue, Co-Founder and Managing Partner of Cognitive Blockchain Capital

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