NEM Launches Development Studio Ahead of Major Blockchain Upgrade

The new NEM Studios is being created by NEM Holdings, the non-profit holding company of NEM Ventures, and the NEM Foundation to help with strategy and backend development for NEM’s planned “Catapult” protocol upgrade.

Catapult is aimed to provide enterprises with a “high speed, configurable and scalable blockchain solution,” the release states.

NEM Studios’ development activities are to be funded by NEM Core, and is now seeking to hire a CTO and a development team to assist with building the Catapult Core protocol and API layer. Chair and trustee of NEM Holdings and chair of the investment committee for NEM Ventures David Shaw – who also advises the Catapult project– will lead NEM Studios as director.

A steering committee comprised of David Shaw, NEM Foundation President Alexandra Tinsman, and Nate D’Amico from NEM’s Project Management Committee will lead the “go-to-market” strategy for the upgrade.