NFT Platform Ucollex Raise $10 Million in Animoca-Led Funding Round

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Ucollex, a non-fungible token platform based in Hong kong whose primary focus is on pop culture and art collectibles has just closed a round of Series A funding. The funding which was led by a Japanese investment firm MCP Asset Management, MCP IPX One, and Animoca Brands raised a total of $10 million. However, the valuation of the NFT platform was not made public.

Animoca Brands, one of the firms that led the funding, has a portfolio of more than 150 investment companies related to centralized products and NFTs including Sky Mavis and Dapper Labs.

Ucollex

As regards Ucollex, the NFT platform does not compel buyers to own a digital wallet before having access to the platform. Generally, the platform offers exclusive content such as 3D art, virtual reality experiences, and artist interviews.

In an attempt to expand its reach, Ucollex has been actively collaborating with crypto firms and brands. Just last autumn, the brand formed a partnership with Binance, one of the top crypto exchanges in the world to launch Jimmy Choo’s first NFT collection.

With new capital raised, hopefully, Ucollex will continue the trend and partner with more brands to launch varied NFT collections.

The $10 million funding

According to Ucollex, the capital raised will be directed towards scale operations as well as blockchain tech development and its various platforms. The funding is also said to help steer marketing efforts about considerable intellectual property (IP) partnerships; an announcement that should soon hit the general public.

According to Robert Tran, the CEO of Ucollex, the platform’s core offering dubbed ‘Collectortainment’ will allow the brand to bridge the prevailing worldwide fandom for pop culture collectibles. And hopefully, this will usher investors into the latest paradigm I utility and blockchain ownership.

Tran went on to say that pop culture, toy, and anime illustrators are the brand’s primary focus for the year. This is because Ucollex truly believes that these digital collectibles are effectively facilitating modern consumer spending.

The Executive Chairman and co-founder of Animoca Brands, Yat Siu also made some interesting comments during a press release. He claims that the brand is delighted with the current investment as it will offer an easy approach for intellectual properties in the Metaverse.

Right now, it’s general knowledge that the finance capital of Hong Kong has become the primary hub for general web3 development and NFT. Hence, the partnership between both firms is one of the many NFT investment efforts to come within the region