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Gomu is a non-fungible token infrastructure company. The company announced Wednesday that it had closed a $5million seed round. Participants included DeFiance Capital, Saison Capital and Coinbase Ventures.

Venture capital firms DeFiance Capital and Saison Capital participated in the fundraise. Gomu’s spokesperson declined to reveal the company’s value.

Gomu was founded earlier in the summer and has since launched two products, NFT hub and collection.xyz to make it easier for NFT communities to grow.

NFT Hub is a community hub and marketplace for NFT projects. This allows startup collections to create an online space for their holder’s holders more easily. Gomu stated that NFT communities can easily create customized marketplaces and token-gated communities in minutes. This is all without any previous experience with blockchain technology.

Gomu also offers Collection.xyz, a liquidity incentive protocol to make NFTs more marketable.

“HT0_ Collection.xyz allows users to get token rewards for placing their NFTs or crypto in a liquidity Pool and committing to buy/sell at a specific price range,” Spencer Yang, Gomu CEO and cofounder told CoinDesk. “Anyone can give token rewards to users for liquidity, since it promotes a healthier market.”

Yang and cofounder Jeremy Seow worked previously at the token data website CoinMarketCap and had stints at cryptocurrency firms Coinbase, Chainlink, and Chainlink.

“NFTs have a huge potential for real-world impacts, but it is only possible to realize that potential if there is enough industry interest and the infrastructure to support it,” stated Chris Sirise, Partner at Saison Capital.

The post NFT Start-up Gomu Raises $5 Million in Seed Funding Round first appeared on The Daily Encrypt.



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Angie Byrd