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With fresh funds, Kyoko team is going to advance “DAO-to-DAO credit” concept and improve Web3 liquidity ecosystem
Kyoko, a multi-blockchain GameFi NFT lending market and DAO-to-DAO lending platform, shares the details of its latest funding round supported by a clutch of reputable investors.
Kyoko raises $3,000,000 from Animoca Brands, Morningstar Ventures and others
According to the official announcement shared by Kyoko platform on its social media channels and main blog, its strategic funding round has successfully ended.
We’re so thankful for all of your support and are excited to announce our PR investors: @animocabrands @petering_ @Blockchain_SPC @Morningstar_vc @RedBuildingCap @NGC_Ventures @Momentum_6 @ivcryptofund @Axia8Ventures Kliff Capitalhttps://t.co/s0f1WRAMmj https://t.co/s0f1WRAMmj
— Kyoko (@kyokoFinance) February 2, 2022
Iconic GameFi visionary and investor Animoca Brands led the round, while Infinity Ventures Crypto (IVC), YGG SEA, Morningstar Ventures, AXIA8, Red Building Capital, NGC Ventures, Momentum 6, BlockchainSpace and Kliff Capital also backed Kyoko in this fundraising round.
Also, business angel Peter Ing, founder of BlockchainSpace, backed the product as a private investor and advisor.
With fresh funds, Kyoko is going to score an array of partnerships with “play-to-earn” guilds and GameFi-focused decentralized autonomous entities (DAOs).
Steve Hopkins, head of investor relations and business development at Kyoko is certain that his product can change the narrative in liquidity management for various GameFi teams:
Traditional corporate credit is a multi-trillion dollar industry in the US alone. There’s never been a better time to bring this demand to blockchain – and Kyoko has the right team and resources to do it. This investment will allow the Kyoko team to quickly expand its credit lending solutions for blockchain-based institutions and capture this untapped opportunity.
The platform is set to go on mainnet in Q1, 2022
Yat Siu, executive chairman and co-founder of Animoca Brands, added that he is optimistic about the vision and accomplishments of Kyoko:
As one of the world’s largest investors in NFT-related companies and decentralized projects, Animoca Brands is keenly aware of the value that blockchain-based credit is able to offer to the open metaverse ecosystem, and we recognize the strong potential of Kyoko’s liquidity solutions.
Kyoko platform addresses the sphere of peer-to-peer lending with a focus on NFT and GameFi guilds. It attempts to advance cross-chain lending and DAO-to-DAO interactions.
Right now, Kyoko’s infrastructure is undergoing stress tests to ensure its seamless mainnet launch, expected in Q1, 2022.