With the new capital, Limitless Labs plans to enhance its platform by launching a decentralized social network.
Limitless Labs, the research and development network behind the prediction platform Limitless, has raised $3 million in a pre-seed funding round led by 1confirmation, a prominent early-stage venture firm. This round also saw participation from Paper Ventures, Collider, and Public Works, together with prominent figures like Peter Thiel and Marc Andreessen.
The new funding will be used to further develop Limitless’ platform and roll out new features aimed at enhancing the user experience. The timing of this raise comes as Limitless is seeing rapid growth. Over the past week, the platform’s trading volume has surged by 800%, with over $200,000 being processed daily. Notably, around half of its active users interact with the platform daily, a sign of high engagement among traders.
Expanding with New Features
With the new capital, Limitless Labs plans to enhance its platform by launching a decentralized social network. This feature will allow users to create their own prediction markets, enabling them to generate trading fees and build a reputation within the community. According to Limitless CEO CJ Hetherington, user-driven markets are already gaining popularity on the platform.
“A lot of the most popular markets on our platform were not created by us,” Hetherington explained. “They were created by members of our community, and they’ve been earning money from them.” This focus on user-created markets sets Limitless apart from other platforms and is expected to drive more growth in the future.
Standing Out in the Prediction Market Space
While traditional prediction platforms, like Polymarket, focus heavily on elections and other long-term bets, Limitless is taking a different approach. It specializes in fast-expiring markets, where traders bet on things like stock or cryptocurrency prices by the end of the day. This short-term focus is similar to zero-day-to-expiry (0DTE) options in traditional finance. The quick turnover appeals to users who don’t want to lock up their money for extended periods, and it helps drive repeated engagement.
For example, one of the most traded markets recently revolved around the potential arrest of Telegram’s founder, Pavel Durov, and the ongoing debate about the future of X (formerly known as Twitter) in Brazil. This strategy has led to impressive user retention rates. Recent data shows that 38% of new users return to the platform after their first week, indicating that the daily market format is resonating with traders.
A Community-Driven Future
Limitless Labs was founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller. As Limitless grows, its focus on community-driven markets and fast-expiring bets positions it as a unique player in the prediction market space.
With its new funding and ambitious plans, Limitless Labs is set to reshape how prediction markets function, making them more dynamic and accessible to a broader audience.
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