5ire is an open-source layer-1 blockchain that also offers ESG ranking services. It claims to be the first sustainability-focused blockchain committed to aligning its activities with the 17 UN Sustainable Development Goals. The blockchain’s native token is 5IRE, and it uses its own validating mechanism called proof-of-5ire, a combination of nominated proof-of-stake, proof-of-benefit, and proof-of-donation. The platform’s mainnet is slated to launch in November 2022.
Key customers and partnerships
5ire joined Huawei and Morpheus Labs’ launchpad in October 2021 to promote the mass adoption of blockchain technology. Through this, 5ire also aimed to integrate the blockchain solutions of Morpheus Labs to improve the adoption of its blockchain. The company also partnered with INTEX and VFS Global to expand the adoption of the 5ire blockchain.
Funding and financials
In July 2022, 5ire raised USD 100 million in Series A funding from Sram and Mram–a UK-based conglomerate, at a valuation of USD 1.5 billion. 5ire planned to funnel the fresh funds to expand its operations and footprint across Asia, Europe, and North America. Additionally, the company received an undisclosed investment from GotBit Hedge Fund in February 2024.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.