HomeNEWSEx-Google ads boss launches nxyz project

Ex-Google ads boss launches nxyz project

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As per reports, Ex-Google ads boss, Sridhar Ramaswamy has launched a Web3 search project, nxyz. The project, as revealed, emerged to simplify blockchain searches. Ramaswamy, before starting nxyz, previously led Google’s ads business between 2013 to 2018.

Meanwhile, the launching of the nxyz project, materialized after it secured enough funding from notable investors. The former Google boss, Ramaswamy, had in May, obtained a $40 million funding round to develop nxyz. Remarkably, a crypto and web3 dealmaker, Paradigm led the funding round.

More so, popular crypto exchange, Coinbase, Sequoia and Greylock invested in the project as partners. Meanwhile, Ramaswamy aims to operate the startup project as a different entity from Neeva, a separate privacy-focused search engine owned by him. Additionally, the Ex-Google executive intends to double his role as the CEO of nxyz, just as he leads Neeva.

The genesis of the establishment of Neeva and nxyz by Ramaswamy

Interestingly, Ramaswamy developed Neeva in 2019, shortly after leaving Google. Reportedly, he left his position as the senior vice president of the Google’s ads business, a year earlier, accusing the tech giant of placing its growth at the detriment of its users. Neeva, as designed, runs as a search engine devoid of any ads and blocks online tracking tools. However, a few years after developing Neeva, the idea of another innovation, nxyz was conceived. In early 2022, Neeva, on its website, describes nxyz as an “experiment bringing the same user-first ethos of Neeva search to web3.”

More so, Nxyz explores blockchains and other related apps for “sought-after data on information “like how much someone holds in their crypto wallet.” The project consequently streams the data for developers in real-time through the APIs tools. Currently, nxyz backs Polygon, Ethereum, and Binance networks, with more to come as promised by Ramaswamy. According to findings, the web3 software of nxyz is not targeted at customers. It focuses on availing efficient blockchain data to crypto companies.

The former Google boss, in a statement, says the advancement rocking blockchain technology enables the idea of decentralized computation. With this, users upload a piece of code to blockchain and the code keeps running there, he added. Ramaswamy further that the project runs as a decentralized storage, owned by a collective with no one in charge.

nxyz will sit out the crypto winter – Ramaswamy

Reflecting on the prevailing market conditions, the CEO said the firm was “lucky to raise funding when it did.” According to him, he began talks with investors within mid-April and concluded around mid-May. Notably, this period fall within the time in which stablecoin terraUSD and its sister token luna started crashing. Ramaswamy, however, expresses optimism that the project remains well funded to sit out the crypto winter.

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