Singapore, Feb. 2, 2022 — Kyoko.Finance, the decentralized autonomous organization (DAO) to DAO credit provider and cross-chain GameFi nonfungible token (NFT) lending market for guilds and players, announced today that it has raised $3 million in its private-funding round led by Animoca Brands, with other investors including Infinity Ventures Crypto, Yield Guild Games Southeast Asia, Morningstar Ventures, Axia8, Red Building Capital, NGC Ventures, Momentum 6, BlockchainSpace and founder Peter Ing, and Kliff Capital.
Kyoko provides liquidity solutions to the Web3 market through its collateralized DAO-to-DAO credit lending platform. The company also addresses the most pressing issues challenging GameFi, including the rising cost of entry and siloed in-game assets on different blockchains, through its peer-to-peer (P2P) NFT- and cross-chain asset-lending platforms. The team’s members have strong technical backgrounds and come from senior positions at major technology companies and fintech startups globally.
The new funding announced today will be used to strengthen Kyoko’s position as a first-mover in the market. Kyoko will aggressively pursue strategic partnerships with DAOs, guilds and games while also growing its development and marketing teams to quickly scale its industry reach.
“Traditional corporate credit is a multi-trillion dollar industry in the United States alone. There’s never been a better time to bring this demand to blockchain — and Kyoko has the right team and resources to do it,” said Steve Hopkins, head of investor relations and business development at Kyoko. “This investment will allow the Kyoko team to quickly expand its credit-lending solutions for blockchain-based institutions and capture this untapped opportunity.”
Yat Siu, executive chairman and co-founder of Animoca Brands, said, “As one of the world’s largest investors in NFT-related companies and decentralized projects, Animoca Brands is keenly aware of the value that blockchain-based credit is able to offer to the open metaverse ecosystem, and we recognize the strong potential of Kyoko’s liquidity solutions.”
Kyoko’s P2P NFT-lending platform is currently in its test launch phase, and its DAO-to-DAO- and cross-chain asset-lending platforms will be released later in the first quarter of 2022. Follow Kyoko on social media for the latest announcements and company updates.
Kyoko is a DAO-to-DAO credit provider and cross-chain GameFi NFT lending market for guilds and players. Kyoko’s DAO-to-DAO lending offers liquidity to promote Web3 development, while its guild-to-guild-, P2P NFT- and cross-chain asset-lending platforms aim to solve the most pressing issues challenging the GameFi market — including the rising cost of entry and siloed in-game assets on different blockchains. Kyoko’s metaverse will allow guilds to display their history, progress and other accomplishments, while players can connect with others in a world that can be built in, developed and sold off.