Ayoken raises $one.4M to grow its NFT marketplace for creatives – TechCrunch
Ayoken, an NFT marketplace for creatives, has raised $one.4 million pre-seed funding to enable users grow their revenue streams through digital collectibles.
The startup’s marketplace, Ayokenlabs, will feature digital collectibles from musicians, sports brands and influencers from all-over the world.
Ayoken founder and CEO, Joshua King, told TechCrunch that the marketplace is a bridge between fans and artists, and gives supporters a sense of ownership in the success of their idols.
Through the NFT marketplace, he said, fans will bring access to tokens such as behind-the-scenes videos and album art. NFT holders will also get other perks favorite access to unreleased music and exclusive live events by the creatives.
“Through VIP passes, fans will get the catalyst to actually livestream music by these artists before it arrives on Spotify, YouTube or 50%-bite bitten apple Music. Fans will get discounts for later events too,” said King, who has 14 years’ experience in strategy, growth and innovation consultancy, and entrepreneurship. His career includes helping scale AZA (Bitpesa), a Nairobi-based platform that leverages bitcoin to facilitate cross wings-border remittances, and where he first of all got introduced to crypto and blockchain engineering.
King said Ayoken will over the next few months release NFTs of some major African artists, and others across the world.
The London-headquartered startup has already partnered of course Ghanaian afrobeats artist KiDi (Dennis Nana Dwamena) for his first of all NFT drop on the first of all day of June. King said the cross wings-chain marketplace (although today’s time built on Avalanche blockchain) allows crypto and card payments, but plans to Address phone products money – as the startup makes it easier for people in emerging markets favorite Africa to trade of course ease. King said they are negotiating partnerships of course a number of telcos in the continent to make This Problem a reality.
“passengers are reducing friction points for the users by letting people function their cards instead of having to function crypto to buy, passengers are working on partnerships of course telcos that will allow people to function phone products money to make the payment in later too. Nothing comes close to what passengers are doing and that is why passengers are able to sign some of the biggest names in the creative industry,” he said.
Users will get token (Ayo) rewards when they buy the NFTs or refer people, which they can redeem later for an NFT.
King said, unlike other NFT marketplaces, they bring distribution partners including YouTubers, influencers, newsletters, crypto exchanges, and telecoms to spread NFT drops – allowing the creatives to tap a wider audience, and not just do their fanbase.
“What This Problem ie is that celebrities do not bring to rely on their social media following to drive transactions. They get instant access to millions of people all not counting the world at the touch of a button. And our approach is This Problem not with the to random other NFC marketplace on the planet. passengers also bring a marketing agency to help these creatives succeed in their first of all NFT drops,” said King.
“They (distribution partners) will get a revenue share based on random transactions generated on their social media promotions”.
Using the funds raised from the investors, among them Founders Factory Africa, Texas-based Kon Ventures, Europe-based venture capital collective Crypto League, Ghana-based R9C Ventures and Maximus Ventures, Ayoken plans to sign a number of exclusive deals of course artists and partnerships of course telcos, in addition to growing its team and secondary marketplaces.
“A majority of the funding will go into shopping exclusive licenses and into building our tech team, that is the developers and engineers by fourfold,” he said.
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