Today, Element, an NFT asset aggregation auction platform, announced that it has received a cumulative $11.5 million angel round of funding, valued at $50 million, led by SIG and Dragonfly Capital. Dragon Roark, INCE Capital, founded by renowned investor Jianping Gan, and some other investors and individuals who are not at liberty to disclose at this time, with a total of 10 institutions participating in this round of investment.
Element, headquartered in the Cayman Islands, was launched by serial entrepreneur Wang Feng and his long-time technology partner Zhang Hongliang.
According to Wang Feng, “As an emerging thing, the rise of NFT easily reminds us of Amazon in the Internet era. A series of recent NFT success stories abroad show that chain-based auctions, compared to the traditional art auction market, can have a huge appeal to artists.”
Wang Feng disclosed the current in active advancement of the plan.
- recruit talents and look for bit partners in the fields of research and development, product design, and global business operations. In particular, we are looking for technical talents with experience in public chain, DEFI and financial products.
- Design the product to be a fully decentralized NFT asset aggregation auction platform, which provides a huge selection of NFT assets by capturing and parsing the data on the chain. In the platform design idea, support cross-asset attributes, cross-protocol categories, cross-commons chain platform.
- Extensive cooperation with global NFT projects. Provide rich choices in categories such as artwork, collectibles, music, meta-universe games, sports peripherals, etc.
- Practice DAO, promote community building and community cooperation, and design blockchain governance and incentive mechanisms.
SIG partner Guo Lu’s view.
Cryptographic artwork is being highly valued in the NFT space, and we think this a very positive sign. In the long run, NFT brings us a lot of imagination, and the NFT platform has opportunities to dig deeper in video, gamification and financialization. Although this market will not mature soon, and our knowledge of NFT technology and value is only in its infancy, we are optimistic about the future and hope that the Element team will dare to explore it boldly.
Drangonfly Capital founding partner Bo Feng’s view.
NFT market is a big integration of Web2.0 products and Web3.0 system. Element team is the most prepared in NFT market track, showing good market vision and entrepreneurial passion, and the existing team members have good experience and execution in NFT platform architecture design research, DeFi smart contract design, algorithm recommendation and social product design. In addition, NFT is the market will test the team’s comprehensive scheduling ability in technology, product and operation more, and I believe they should have something to do in this track.
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