PartyDAO has raised $ 16.4 million to create social NFT buying protocols
PartyDAO, a Web3 company founded in 2021 and building an array of multiplayer crypto products, has raised $ 16.4 million in a recent round of funding. The round was led by the ever-active venture capital firm a16z, along with other contributions from UniSwap Ventures, Dragonfly Capital, and more.
According to the company’s round-the-clock announcement, the new injection of funds will be used primarily to develop its first product, PartyBid V1, a new protocol for buying NFT with a group of people.
The protocol will provide users with opportunities Transform single player experience In multiplayer dynamics, where collectively, collector communities can enjoy the rapid expansion of crypto and NFT utilities together.
Embedded with forward-thinking technological solutions surrounding governance systems, on-chain accounting, and secure code execution, the integrated PartyBid V1 protocol will serve as a secure, experimental, and social space where group integration complexity is minimized by presenting clear goals. And limitations, where in addition, overheads for users will be reduced without limiting their agency.
Until the funding round, protocol developments have only been funded by Partidao Members and its on-chain revenue, which means the project was primarily limited to achieving its broader goals. Intuitively, now that outside investors have realized that the project has value, it is on a larger path to develop and launch a range of innovative multiplayer crypto products.
Want more? Connect to NFT Plaza
Join the weekly newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram
* All investment / financial opinions published by NFT Plaza come from the personal research and experience of our site moderators and are intended as educational material only. Individuals need to do thorough research on any product before making any kind of investment.
Team Writer. 100% non-fungal.
https://ift.tt/b6McXPq
Post a Comment
Post a Comment