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.
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.”