UCOLLEX, an online platform that sells unique and limited edition NFTs for toy and pop culture collectibles, has scored US$10 million in a Series A funding round.
Animoca Brands and MCP IPX One Fund (owned by Japan’s MCP Asset Management co-led the round.
The fresh capital enables UCOLLEX to invest extensively in blockchain technology and tap into metaverse frontiers, increasing its presence across the worlds of anime, manga, and toy communities.
Also read: Demystifying NFTs and DeFi
Established in 2021, UCOLLEX caters to next-generation creators by making their NFT artworks available to everyone. The firm also enables creators to build their fanbase economy where fans can engage with creators’ metaverse through exclusive interviews and live-streamed drops with artists.
“UCOLLEX is closing the loop between creators and collectors, providing a world where collectors can feel at home and live their passion for collecting through the best 3D art and innovative VR experiences,” said Founder Robert Tran.
At UCOLLEX, people can invest in digital collectibles without opening a wallet, trade their digital collections on its marketplace, and discover rare projects and collaborations.
Last fall, it joined hands with crypto exchange Binance to support the first NFT launch from luxury fashion brand Jimmy Choo.
Data from market tracker DappRadar shows NFT sales volume reached US$25 billion in 2021, presenting a solid market demand for NFTs. This attracts more and more creators to use NFTs and Web3 technologies to increase their artwork’s visibility.
Founded in 2014 by Yat Siu, Animoca Brands has a growing portfolio of more than 150 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. Its investments include Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
This February, Animoca announced the launch of its Guild Accelerator Programme to foster the P2E gaming ecosystem and the acquisition of Melbourne-based Grease Monkey Games to develop its motorsports game catalogue.
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Image Credit: UCOLLECT
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