Neptune Mutual
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Neptune Mutual

Neptune Mutual Raises Strategic Round, Led by Animoca Brands, to Build Cover Protocol for Metaverse Assets

5 Jan 2022

Neptune Mutual, a multi-chain decentralized cover protocol, announced that it has raised a $3M strategic round led by Animoca Brands; other investors included Pacific Century Group, Genesis Block Ventures, Fundamental Labs, GSR, Cambium Grove Capital, and a number of other funds.

Unlike discretionary mutuals, Neptune Mutual’s parametric cover products provide guaranteed payouts to policyholders following incidents based on unbiased, on-chain resolution by NPM governance participants.

The Neptune Mutual protocol is based on a parametric cover model that offers policyholders protection against exploits of cryptocurrency exchanges, custody providers, smart contracts, and also metaverse projects. There is no need for individual assessment of each claim and no need for proof of loss documents. Once resolution is reached on the cover incident, via the NPM governance participants, the payout is validated for every policyholder. The underlying principles of the Neptune Mutual protocol design are low risk, scalable, secure, and ease of use.

With investments in over 150 metaverse and NFT projects, Animoca Brands is the leading global player in building and supporting open metaverse projects that bring digital property rights to online users. Play-to-earn and creator’s economy models are underpinning a fair and equitable digital framework in which the value of virtual assets is growing rapidly; a solution for protecting these assets is considered a vital part of the metaverse ecosystem.

About Us

Neptune Mutual project safeguards the Ethereum community from cyber threats. The protocol uses parametric cover as opposed to discretionary insurance. It has an easy and reliable on-chain claim process. This means that when incidents are confirmed by our community, resolution is fast.

Join us in our mission to cover, protect, and secure on-chain digital assets.

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Neptune Mutual

Neptune Mutual provides you with guaranteed stablecoin liquidity to reduce risk exposure by hedging against capital risks and smart contract vulnerabilities.