Paradigm bets on noise and finances the on-chain attention market.

• Paradigm leads $7,1 million seed round
• Noise creates a trend-based attention market.
• The platform will be launched on Base, layer 2 of Ethereum.

Paradigm, a leading cryptocurrency-focused venture capital firm, led a $7,1 million seed round in Noise, a New York-based startup developing a platform for the so-called attention market. The investment comes ahead of the project's public mainnet launch on Base, the Ethereum second-layer network incubated by Coinbase.

Noise is excited to announce a $7.1M Series Seed led by @paradigm pic.twitter.com/zEXjTsLgjr

— Noise (@noise_xyz) January 14, 2026

The investment complements previously undisclosed pre-seed funding, with participation from Figment Capital and Anagram, as well as strategic investments from companies such as GSR, JPEG Trading, and KaitoAI. According to Gabriel Perez Carafa, CEO and co-founder of Noise, the resources will be directed towards product development and expanding data infrastructure.

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Noise's proposal is to create an environment similar to a prediction market, in which users can allocate capital based on the expectation that certain themes, brands, or narratives will remain relevant over time. The idea combines elements of trend analysis with market mechanisms, functioning as a filter for information overload on social media.

Launched in beta in May, Noise's testnet, accessible only by invitation, attracted over 1.300 users. During that period, 14 attention markets focused on cryptocurrency industry topics were opened, with social media data provided by Kaito. Carafa stated that the team managed to "test it for about five months before everything went wrong," referring to the platform's rapid spread.

The full launch at the Base is planned for the coming months and should mark the opening of the protocol to the general public and the use of real capital.

"From there, you get this objective measure of cultural relevance to the common interests of the world."

said Carafa.

According to the executive, attention has become one of the most sought-after assets in the digital economy. “Attention is the most coveted currency in modern culture and, in many ways, surpasses or is considered more valuable than fundamentals, such as a great job or a healthy balance sheet,” said Carafa. “We care a lot about how relevance will change, not just its current state.”

During the testing phase, the team observed a relationship between the measured interest in the Pump.fun attention market and the price of the pre-ICO PUMP token traded on Hyperliquid. “We discovered this intrinsic leading and lagging relationship between all the attention data we had and how that market ended up behaving on Hyperliquid,” stated Carafa. “Attention seemed to both anticipate and follow the price, but it wasn’t possible to use one to predict the other.”

One of Noise's distinguishing features compared to platforms like Kalshi and Polymarket is the continuous format of its markets. "It's like a stock market for trends or attention," said Carafa. "We really want to generate prices based on relevant information."

Among the investors are well-known names in the technology and crypto sectors, such as Jordi Hays, Jackson Dahl, Justin “3lau” Blau, and Kain Warwick, reinforcing the market's interest in models that transform attention and relevance into tradable on-chain data.