Quick take:
- Non-fungible token (NFT) marketplace Colexion has raised $5 million.
- The authenticated celebrity NFT platform secured $1.8M in the seed round, adding a further $3.2M in a private round.
- Colexion said it will use the funds to accelerate its metaverse expansion campaign.
Celebrity non-fungible token (NFT) marketplace Colexion said on Thursday it has completed a $5 million fundraise. The authenticated NFT platform said it raised $1.8 million in a seed round and a further $3.2 million in a private round.
The platform said it will use the funds to build the infrastructure that will accelerate its metaverse expansion campaign. Colexion is one of the leading NFT marketplaces in Asia, drawing most of its audience and artists from India.
The platform offers a unique experience compared to other NFT marketplaces by blending blockchain gaming and NFTs with the metaverse experience. It offers its users access to a personalized virtual museum, various play-to-earn games, virtual tournaments, and the metaverse.
The recent seed and private funding rounds attracted participants from leading venture capital firms and blockchain companies including Polygon, Jump Trading investments, Alan Howard of Brevan Howard, HyperEdge Capital, and C² Ventures.
ZBS Capital, ICO Pantera, Titan Ventures, and Good Games Lab were also among several prominent names that participated in the fundraising.
Colexion also announced that its utility token $CLXN will be coming to multiple launchpads including Redkite, Prostarter, Scaleswap, and Firestarter. The token will also be available for trading on leading cryptocurrency exchange platforms, as well as, on the Colexion NFT marketplace alongside other collectibles.
The NFT platform focuses on the registration of celebrity NFTs whilst keeping them as affordable as possible to the rapidly growing user base. Major Indian movie stars, international cricket players, and other global sports and movie stars have offered their own unique collections on the platform.
Colexion has secured exclusive rights of several celebrities from its targeted markets, including Bollywood, Tollywood and other legendary athletes, giving it an expansive source of unique collections for its users.
The platform has tapped into metaverse and gaming technologies to improve user experience. Users can access the life journeys of legendary celebrities displayed in virtual museums within the platform’s metaverse.
Colexion has upped the standards in the NFT market by adding tournaments and concerts, which its users can attend within its expanding metaverse. It recently hit the headlines with its Trump Card NFT drop of 30 international celebrities, the biggest NFT drop in the category so far.
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