NFTs: New Creative Crypto Startup Raises $ 1.4M | news

• Crypto startup Ayoken receives $ 1.4 million in funding

• The NFT marketplace is for musicians and other creative people

Ayoken aims to be a “bridge between fans and artists”.

NFT platform for artists and their fans

The newly formed NFT startup Ayoken, whose platform for musicians and other types of creative brains can revenue generation of their works, were able to raise $ 1.4 million from investors in a pre-seed financing round. As TechCrunch reports, the fresh funds should enable users to increase their revenue streams through digital collectibles. At Ayokenlabs, the young company’s trading platform, all sorts of digital valuables from musicians, sports brands and influencers from around the world are to be offered for sale and purchase.

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Joshua King, founder and CEO of Ayoken, describes his vision for TechCrunch as a “bridge between fans and artists”. He wants followers to feel that they own part of the success of their idols in the form of collectibles. For example, tokens offered at Ayoken will include exclusive behind-the-scenes videos and album covers, according to King. In addition, the owners of the NFTs will also have access to unreleased music and exclusive live events.

“VIP Pass allows fans to hear music by these artists live streamed before it is released on Spotify, Youtube or Apple Music. Fans will also receive discounts on future events,” said Joshua King, who has 14 years of experience in the fields of strategy, growth and innovation consulting and entrepreneurship. For example, during his career he helped build AZA (Bitpesa), a Nairobi-based platform where he was first introduced to cryptocurrencies and blockchain technology.

Ayoken relies on big names and effective partnerships

According to the CEO, Ayoken will release NFTs from some major African artists as well as tokens from other artists around the world in the coming months. Artists who have already partnered with London startups include Ghanaian Afrobeats musician KiDi (Dennis Nana Dwamena), whose first NFT drop ever took place on June 1st.

In terms of payment options, the digital marketplace allows for both crypto and card payments, but King says he plans to add mobile money as an option in the future as the startup makes it easier for users to trade NFTs in new markets such as Africa to run. One is negotiating partnerships with a large number of telecommunications companies on the African continent to make this possible. “We are reducing friction for users by allowing them to pay with their cards instead of forcing them to use cryptocurrencies; we are working on partnerships with telecommunications companies that will also allow people to make payments in the future” Nothing Comes “close to what we do, which is why we’re included some of the biggest names in the creative industries on our list of collaborators,” King told TechCrunch.

Ayonken’s distribution partners allow a wide range

The platform will also feature a rewards system that rewards users with tokens (Ayo) if they purchase NFTs or attract new users to the digital marketplace through recommendations. The tokens can then be used later when you buy an NFT at a discount. According to King, a significant difference from other NFT platforms is that Ayoken has distribution partners such as YouTubers, influencers, newsletters, crypto exchanges and telecommunications that market the NFT drops, allowing artists to reach a larger audience and not just their fanbase .

Forbes compares Ayoken’s concept with Socios, the developers of the Chiliz blockchain. Where Socios ‘goal was to improve the relationship between fans and sports organizations, Ayoken has created a platform where digital collectibles can be extracted to strengthen fans’ loyalty to musicians and other artists. As the favorite musician you bought NFTs from grows on fire and hosts ever more successful events, so do the collectibles associated with that artist.

Thomas Weschle / Editor finanzen.net

Image sources: Sergei Elagin / Shutterstock.com, archy13 / Shutterstock.com

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