Prediction Market Myriad has completed its seed investment round. The round saw participation from investors including MoonPay, Walrus, and Fundstrat co-founder Tom Lee. Participating firms included Verda Ventures, Auros, Igloo Inc, Side Door Ventures, EVG, MoonPay Ventures, Wave Financial, Walrus, and OFR. Individual participants included Seedphrase, Blondish, and Pudgy Penguins CEO Luca Netz.
Myriad co-founder and COO Ilan Hazan noted that these new investors join backers including ConsenSys, HashKey Capital, IOSG Ventures, and Hack VC. Hazan characterized the funding as a significant endorsement of the company’s direction, providing resources to advance product development, growth, and expansion. Myriad co-founder and CEO Loxley Fernandes stated the growth capital will allow for aggressive investment in product development, liquidity, and market expansion to build infrastructure. The funding announcement followed the platform’s third season launch, which involved a migration of its event contracts to BNB Chain and the adoption of World Liberty Financial’s USD1 stablecoin as its sole settlement asset.
Furthermore, the platform recently shifted from an automated market maker model to a Central Limit Order Book system, introducing features such as slippage controls, limit orders, dynamic fees, and enhanced market data. A Myriad Wallet was deployed across the platform, with an integration with MoonPay to facilitate rapid deposits. Myriad co-founder and President Farokh Sarmad said the investment marks a milestone for the company, which is owned by the parent company of Decrypt. Sarmad added that the capital enables a new phase of growth focused on building and scaling Myriad Markets.
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