Ucollex, a platform that lets you buy and trade digital collectibles on Ethereum at the click of a button, has raised $10 million in funding. The project is led by Animoca Brands Ltd., which creates mobile games like Pokémon Go while also selling physical trading cards.
The “nft trading platform” is a cryptocurrency exchange that allows users to trade in the NFT (Non-fungible token) market. It has raised $10 million in funding from Animoca, which is an Australian company with over 20 years of experience in digital marketing and software development.
Ucollex, another Hong Kong-based startup, raised $10 million in an investment round headed by Animoca Brands. Ucollex, an NFT marketplace that sells digital memorabilia of toys and pop culture and was founded in 2020, claims that the fundraising round has boosted the company’s worth to $110 million.
MCP IPX One Vehicle, an investment fund founded by MCP Asset Management’s Japanese business, and Animoca Brands also participated in the round.
The fresh funds will be used to grow the Ucollex team and platform, with co-founder and CEO Robert Tran stating that the company’s goal is to provide an experience that mixes digital valuables and entertainment via innovative features like ‘virtual artwork fights.’
“We feel there is still a lot of work to be done to transform collectors from passive supporters to essential and active participants in the development process,” Tran said in his written statement. There will be huge growth for Ucollex as long as new producers emerge and material grows at the same rate as it has in the previous several years.”
As you may be aware, Hong Kong’s financial capital has emerged as a vital focus for NFT and general Web3 advances, implying that the collaboration between the two dwelling firms is just one of many investment-related ventures to come amid the region’s massive rollout of NFT initiatives.
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