Ika Secures $21 Million Funding After Record 1.4 Million SUI NFT Campaign

Ika, a pioneering blockchain technology company, has successfully secured $21 million in funding, following a strategic investment from the Sui Foundation. This funding round comes on the heels of a record-breaking 1.4 million SUI NFT art campaign on the Sui blockchain, which has positioned Ika as a leader in the blockchain interoperability space.

Ika is renowned for being the world’s fastest parallel MPC (Multi-Party Computation) network, enabling zero-trust interoperability between blockchains at an unprecedented scale. This capability is crucial for the Sui blockchain, which prioritizes performance, speed, and decentralization. Ika’s technology allows for secure and efficient transactions across hundreds of signer nodes, ensuring ironclad security and aligning perfectly with Sui’s core principles.

With its innovative 2PC-MPC cryptographic scheme and Sui’s Mysticeti consensus protocol, Ika addresses critical limitations found in existing MPC networks. This design offers exceptional throughput, processing transactions up to 10,000 times faster than current MPC networks. The network’s sub-second speed enables real-time applications across multiple chains, while its scalability surpasses the typical 4-8 node limit, allowing for hundreds or even thousands of signers without compromising performance. Ika’s zero-trust security ensures that user assets are secure under all circumstances, setting a new standard in decentralized security.

Ika’s efficient design has led to a wide range of applications within the blockchain industry. One of its key use cases is DeFi interoperability, where the network enables instant and secure operations across all Web3 ecosystems. This brings liquidity from chains like Bitcoin and Ethereum to the Sui network, enhancing its utility and reach. Additionally, Ika offers secure, decentralized custody solutions for institutional and individual users, with Aeon and Human Tech set to integrate Ika into their technology. The network also enables chain abstraction, allowing builders on Sui to simplify the complexity of multiple chains for their users, alongside other Sui features such as zkLogin, which delivers a seamless user experience.

With Ika, Sui is now open to new possibilities, including the availability of native Bitcoin through programmable and secure DeFi and custody. In terms of AI, Ika enhances AI applications on Sui by providing secure MPC guardrails, ensuring AI agents don’t have full unchecked power, and safeguarding users’ assets. Ika is backed by several top investors in the Web3 space, including Sui Foundation, DCG, Big Brain Holdings, Blockchange, Node Capital, Amplify Partners, Liquid2 Ventures, FalconX, and many others.

Having launched the “MF Squid Market” NFT art campaign, the largest and most successful NFT campaign in Sui history, and received over 1.4 million SUI, Ika intends to launch its native token soon on the Sui blockchain. As the native token for the network, it will play key roles, such as enabling seamless transactions and serving as the means to pay for MPC signing services on the ultra-fast, scalable infrastructure. This strategic move is expected to further solidify Ika’s position as a leader in the blockchain interoperability space, driving innovation and security in the Web3 ecosystem.