Quick take:
- NFT platform Ucollex has raised $10 million in a Series A funding round led by Animoca Brands.
- The Hong Kong-based non-fungible token marketplace focuses on art and pop culture collectibles.
- The funds will be used to scale operations including blockchain platform development and revamp intellectual property partnerships.
Hong Kong-based non-fungible token (NFT) marketplace Ucollex has completed a $10 million Series A funding round led by Animoca Brands and the MCP IPX One Fund from Japanese investment firm MCP Asset Management.
Collectors looking to buy NFTs from the art and pop culture-focused NFT marketplace do not require a digital wallet. The platform offers virtual reality experiences in addition to 3D art and artist interviews as part of exclusive content.
Ucollex said the new capital will be used to revamp its blockchain platform and drum up the marketing campaigns in intellectual property partnerships, which will be revealed soon.
Commenting on the funding round, Ucollex CEO Robert Tran likened his company’s NFT marketplace to the intersection of collectibles with entertainment.
“Collectortainment’ is going to be our core offering here as we look to bridge the existing global fandom for pop culture collectibles into the new paradigm of blockchain ownership and utility,” Tran told CoinDesk.
Tran said that the company is focusing on anime, toy, and pop culture illustrators in 2022 because they are significantly impacting consumer spending.
On the other hand, Animoca Brands co-founder and Executive Chairman Yat Siu said in a press release that his company was pleased to lead the funding round because “it will make it easier for intellectual properties to participate in the open metaverse.”
Animoca has been spearheading the campaign in GameFi, NFT and related Web3 investments, participating, or leading more than 150 funding rounds. The company raised $359 million last month featuring major mainstream equity firms like KKR and Softbank Vision 2 Fund.
The blockchain company’s investment in Ucollex is in line with founder Siu’s comments last month. H said the $359 million raised will be used to finance investments in projects that will help accelerate the mass adoption of Web3.
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