SEATTLE, May 18, 2022 /PRNewswire/ — KaJ Labs has grabbed headlines with the announcement of its Lithosphere blockchain platform and unique interoperability capabilities. The foundation has just announced that Lithosphere sold $400 million worth of LITHO tokens to Global Emerging Markets (GEM) digital, Four private equity investors. Gem is a $5 billion alternative investment group based in the Bahamian. This deal marks the second largest seed funding round raised in 2022 so far.
The structure of the agreement is in the form of a token subscription facility (“TSF”), which Lithosphere can withdraw at its option by selling Litho tokens to GEM. The funding enables new product development and global adoption of Lithosphere, while providing more people with the opportunity to add the cryptocurrency to their portfolios.
“Lithosphere is a user-owned and user-controlled network and these funds will fuel even more community innovation. The purchase of Litho tokens by GEM signifies a commitment to the long-term development of Lithosphere and the growth of the Web3 ecosystem” , said Joel Kasr. “This $400 million buying Litho is for all of us who help build Lithosphere. We invite you to come build with us.”
The funding enables new product development and global adoption of Lithosphere, while providing more people with the opportunity to add the cryptocurrency to their portfolios.
Lithosphere’s Jot Art Metaverse recently launched a Play-to-Earn RPG – Delicacy with game elements represented by NFTs. True to Lithosphere’s mission of interoperability across all existing blockchains, the Jot Art metaverse will initially support Ethereum and BNB Chain (BSC) NFTs and in the near future Jot Art will support blockchains. additional once the Lithosphere mainnet is launched.
The platform eliminates many of the problems inherent in existing blockchain networks by being the first blockchain to use embedded deep neural networks to make smart contracts smarter and with the goal of allowing users to work across multiple blockchain networks. This interoperability allows multiple methods of transferring value under a single management structure.
the $400 million funding commitment of GEM at Lithosphere makes possible a variety of new products and innovations. Lithosphere is making a distinctive mark around the world with its artificial intelligence, Deep Neural Networks integrated blockchain technology, and interoperability across multiple cryptocurrency networks – and that’s just the beginning.
LITHO is available on MEXC (LITHO/USDT).
About the lithosphere
Lithosphere is the next-generation platform for cross-chain applications powered by AI and Deep Learning.
On KaJ Laboratories
KaJ Laboratories is a decentralized research organization focused on AI and blockchain technology. We are driven to create innovative products that work for the greater good around the world.
About Global Emerging Markets
GEM Digital Limited is a $5 billion digital asset investment company based in The Bahamian. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to small and mid-cap management buyouts, private investments in public equities, and certain venture capital investments.
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