Web3 fashion and lifestyle platform YoloYolo_xyz, which connects NFT owners with brands for merchandise deals, has raised $3.5 million in a seed round, which included paraficapital and Morningstar_vc. By BrandyBetz
) owners with brands to sell merchandise, has raised $3.5 million in a seed funding round from backers that included crypto-focused investment firm ParaFi Capital, Mirana Ventures and Morningstar Ventures.
Other participants in the funding round were Avalanche Ventures, UOB Ventures, Signum Capital, Genblock Capital, Yolo Investments. Individual investors included Neil Cunha-Gomes of SoftBank's Vision Fund and Nicole Zhang, a former partner at crypto exchange Binance. “One of the biggest problems in the NFT space, that’s also an opportunity for us, is there’s not enough utility,” Hu said. “People spend a lot of money on their Ape NFTs, and especially during this winter, prices drop a lot. We’re just trying to help them generate some revenue from all of the merchandise.”
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