Gomu, a non-fungible token (NFT) infrastructure company, has closed a $5 million seed round, the company announced Wednesday.
The fundraise included participation from venture capital firms Coinbase Ventures, DeFiance Capital, Saison Capital and others. A spokesperson for Gomu declined to disclose the company’s valuation.
Founded earlier this summer, Gomu has launched two products, NFT Hub and Collection.xyz, which make it easier to grow NFT communities.
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NFT Hub provides a customizable community hub and marketplace to NFT projects, allowing startup collections to more easily build an online space for their holders. “NFT communities can create custom marketplaces and token-gated communities in minutes, all without having any prior experience with blockchain technology,” said Gomu in a statement.
Gomu’s other product, Collection.xyz, is a liquidity incentive protocol that makes NFTs more tradeable.
“Collection.xyz makes it easy for users to receive token rewards for putting up their NFTs and crypto in a liquidity pool, committing to buy and sell at a certain price range,” Gomu CEO and co-founder Spencer Yang told CoinDesk. “Anyone can reward users with ERC-20 tokens for providing the liquidity since it helps to promote a healthier market.”
Yang and co-founder Jeremy Seow both previously worked at token data website CoinMarketCap, and also had stints at crypto firms Coinbase and Chainlink, respectively.
“NFTs’ large potential for real-world impact can only be realized if the surge of industry interest is paired with the right infrastructure to support that growth,” said Chris Sirise, Partner of Saison Capital, in a statement.
“We believe Gomu’s NFT Hub and Collection products are the rails required for a great end-to-end Web3 experience for communities and collectors in the space.”