KR1 plc - Investments: Nym, Nexus and Alice

Harry Halpin commented "It's great to have the support of KR1, as one of the first blockchain investment companies in the world, their network and expertise has already proven very useful. They've also backed many projects close to our hearts including Grin, Chainspace and Polkadot. We're proud to have Nym take a place in their portfolio and with our London office opening soon, we look forward to being able to spend more time with KR1, Binance Labs, 1kx and all our other supporters."

Nexus

The Company is also pleased to announce that KR1 has made an additional investment into Nexus Mutual (“NXM”) after the product launched, having initially taken part in the seed round announced in April 2018. The Company invested a further USD73,823 in Nexus Mutual at a price of  USD2.53 per NXM token for an additional 29,182.9 NXM tokens. 

KR1 received 110,776 NXM for its seed round participation at a price of USD 2.28 per NXM token in April last year, as well as bonus tokens amounting to 5,836.6 NXM tokens for being an Etherisc (“DIP”) investor, given the synergies of both projects in the insurance space. KR1 now holds a total of 145,795.5 NXM tokens.

Nexus Mutual uses Ethereum to recreate the mutual insurance company model on a large scale. The platform will bring together people from all over the world to share risk together without the need for an insurance company. The first product is cover for smart contracts, adding an extra layer of assurance, an extremely important element in the blockchain stack and incentivising smart contract security auditors to stake their reputations against prominently used smart contracts. Nexus Mutual is run entirely by its members with all member decisions being recorded and enforced by smart contracts.

Since launch Nexus Mutual has written over USD750,000 worth of cover and has grown its capital pool to more than 9,000 ETH.

Alice.si

KR1 has also invested GBP70,128 into Alice Si Ltd. ("Alice") for 1,522,493 ordinary shares, representing 1.33% of the share capital of Alice. Alice is a social funding and impact management platform built on Ethereum that is fixing the broken social funding model with blockchain technology.

Millions of dollars in social funding are wasted every year through diffuse and ineffective allocation, which has made people lose trust in the system resulting in a stagnant social funding environment. Some smaller but effective social projects often struggle to scale because they do not have enough visibility. By making the performance of each project publicly available, Alice is making it easier for funders (philanthropic organisations, impact investors, small donors) to identify and help scale social projects that actually work. Using smart contracts built on Ethereum, Alice provides social impact projects with the possibility to gain funding with a system that releases tranches of capital only once the project’s aims and targets have independently verified as complete while at the same time initiating new markets for social impact investing.

George McDonaugh, Chief Executive Officer, commented: "In line with our investment strategy to grow our portfolio and build shareholder value, we are very encouraged by how blockchain technology is developing as we continue to see powerful decentralised platforms and applications come to market, the ones mentioned above being prime examples. All have very dedicated teams with strong expertise in their respective fields. Privacy is a key aspect of our lives, especially as we continue the move towards an ever more digital future and social impact projects have never been more important as we tackle climate change and inequality around the world. It’s a testament to the power of blockchain technology that these vital areas of our lives can potentially be so greatly enhanced by this technology. We look forward to being alongside all projects as they deliver their visions.” 

The Directors of the Company accept responsibility for the contents of this announcement.

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About KR1 plc

KR1 is a leading digital asset investment company supporting early stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London (NEX:KR1), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.

www.KR1.io