According to a Thursday announcement, the funding round saw participation from others like Spartan Group, Play Ventures, IDEO CoLab, Bitscale, Eden Ventures, Crypto Plaza, Sfermion, and angel investors such as YGG founder Gabby Dizon. Although Unlockd declined to share its valuation, it said that the capital injection would be used for cross-chain expansion, product development, marketing, and a tier 1 auditor to look into the protocol’s security.
The company is the brainchild of esports club MAD Lions founder Jorge Schnura and Carlos Otermin. Founding earlier this year, Unlockd enables a pooled liquidity model that allows NFT owners to borrow against their digital collectibles without losing access to them.
Speaking to reporters, Schnura noted that his company would initially focus on supporting gaming guilds, several of which are vested in the project. He said:
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Source: Cryptocurrency - investing.com
