Despite the fast-paced adoption of the current nonfungible token (NFT) innovation or NFT 1.0 among creators and crypto enthusiasts, as well as its future possibilities, there have been certain challenges impeding mainstream adoption of the technology. DareNFT, a universal protocol for a new class of NFTs, has reported a successful closure of its strategic and private sale round. After witnessing participation from up to 50 venture capitalists (VCs) and investors, DareNFT successfully closed the round of $2.4 million.

DareNFT is an NFT 2.0 protocol that aims to ride on the current NFT frenzy, albeit with a little twist to it. Using the fresh capital it landed, the protocol will execute its development strategies and fine-tune its suite of interesting products, which includes a Game Finance (GameFi) platform entitled DarePlay and scheduled as the first MVP to be released.


DareNFT seeks to address challenges facing current NFTs

Some of these challenges in the NFT landscape include unrecognized benefits between NFTs, unrecognized relationships between NFT owners and hidden risks of NFT ownership.

These are areas of interest for DareNFT and it seeks to address them with its wide range of products, starting from the DarePlay — the GameFi platform. DareNFT's DarePlay will also feature a blockchain gaming launchpad for non-NFT games, as well as a launching initial game offering (IGO) service and rent-to-earn and lease-to-earn marketplaces for in-game item NFTs.

Leading high-profile investors support DareNFT

The caliber of investors reported having participated in the latest round of the NFT 2.0 protocol shifts the spotlight to it. This includes venture funds and angel investors from all parts of the world, from Asia to Europe, including the United States, Japan, China and a host of others.

Investors that participated in DareNFT's strategic and private sale round include Kyber Network, AU21 Capital, Basics Capital, Magnus Capital, Momentum 6, X21 Digital, Cosmos Gaming Hub — 6th biggest validator in the Cosmos Network — OneSoft — the leading studio game in Vietnam and 15th most popular game publisher in the global market — LuaVentures backed by Tomochain, Icetea Labs, Moonwhale Ventures, ZBS Capital, BSCStation and Kardia Ventures.

Additionally, DareNFT received support from several leading capital funds and communities in Vietnam and the global market such as CryptoDiffer, Genesis Builders, Mandy ICO Research, Black Mamba Ventures, VBC Ventures, K300 Ventures, BMW Capital, Titans Ventures, Clovers Ventures, TK Ventures, Onblock Ventures, Space Crypto Ventures, DEC Ventures, Onebit Ventures, Kiwi Group, Vitex Capital, RADA Community, Bigcoin Capital, Black Ventures, Mayor Capital, Migoi Crypto, Crypto Holding, Chill Crypto Community, AlphaMoon Capital, Dutch Crypto Investors, Synapse Network, Crypto Daily, CryptoChecker, CMC Capital, Redhat Capital, Dreamboat Capital and AV Star Capital, as well as others.

Commenting on the platform, DareNFT's CEO Duke Nguyen mentioned that the advent of the NFT 2.0 protocol that DareNFT proposes will mark a new milestone for nonfungible tokens and the crypto market in general. The CEO mentioned that the platform's competitive advantage is its ability to adapt to emerging trends, banking on its NFT 2.0 protocol which is an essential element for building a thriving platform.

Citing reasons why his firm participated in DareNFT's round, managing partner of Momentum 6, Garlam Won said: 

“We create momentum for crypto and blockchain projects. That's to say, when it comes to investing in a project like DareNFT, we will assist DareNFT in as many aspects as possible. We would always love to support our portfolio project to have a great start with a good impression on the community. We expect to see DareNFT get fully-fledged as soon as it launches and in no time, get rooted in the market.”

Victor Tran, co-founder of Kyber Network, agreed with Kenzi Wang, and added that:

“In the fast-changing and growing blockchain market, innovation is to be embraced and the more practical the solution can be, the better business attached to that idea would thrive. I keep a high hope for the development of the NFT 2.0 protocol, the adoption of it and the success of DareNFT in the near future.”

Meanwhile, DareNFT will officially roll out its initial DEX offering (IDO) event starting from Oct. 12, followed by the launch of DarePlay. DareNFT believes the GameFi platform will be well received by the ever-increasing NFT community. The NFT 2.0 protocol, DareNFT believes will lay the foundation for the next revolution of DLT.

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