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Blockchain network 5ire raised $100 million funds from GEM

Blockchain network 5ire raised $100 million funds from GEM Global Yield LLC SCS (GGY), a Luxembourg-based private alternative investment group.

5ire is the first layer 1 blockchain project focused on sustainability, with an exchange, wallet, NFT marketplace, and a VC fund to help other sustainable blockchain projects grow. The funds will be used to expand the ecosystem, which will include liaising with government stakeholders in India and upcoming international markets, investing in technology and resources, hiring, and increasing 5ireChain adoption. 5ire has been working on the UN's Sustainable Development Goals and collaborating with nations from three continents. By signing memorandums of understanding, 5ire has taken the first step in establishing public-private partnerships in India, Nigeria, and the United States to bring its technological solutions for sustainability, better governance, and other purposes, according to the company.

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