A16z Funds NFT Startup Co:Create
The investment fund a16z allocated 25 million for the development of the infrastructure startup Co:Create.
This project is aimed at creating an infrastructure for NFT projects. With its help, any brands will be able to quickly issue their governance tokens to support the activities of the DAO, and not just create NFT collections. According to the co-founder of the company, this will better unlock the potential of brands and help them integrate into the Web3 space.
Essentially, Co:Create is a smart contract platform. The startup management plans to launch its initial version in the fall. For this, the staff will be doubled with the funds received. The main network will be created a little later. Subsequently, the company will be transformed into a DAO, and also plans to create its own token.
Interest in this topic attracted investors, and the company successfully completed the initial round of financing. In addition to a16z, the investment arm of the crypto exchange FTX Ventures, the Autograph NFT platform, VaynerFund and the RTFKT studio, recently acquired by the Nike brand, also took part in the financing.
A new word in the environment of cryptocurrency exchanges is the Qmall platform.
CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.