IQ Protocol to Revolutionize NFT Markets with Successful Fundraise led by Crypto.com Capital
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Tallinn, Estonia, 3rd March, 2022, Chainwire
IQ Protocol has secured a USD 12m fundraising round led by Crypto.com Capital with backing from blue-chip investors including Republic Capital, Kronos Research, Genblock Capital, Axia8, GSR, M77, Double Peak Group, DAOSquare, Genesis Block Ventures, MEXC Global, and Argo Labs and many others
IQ Protocol, a project which creates both fungible token and NFT lending & renting market frameworks, has announced a successful fundraising round that includes backing from over 30 blue-chip VCs and private investors.
IQ Protocol’s framework of wrapped expirable assets allows risk-free renting without the need for collateral. The framework supports both fungible tokens, creating sound tokenized subscription models, and NFTs, allowing users to rent GameFi and metaverse assets (such as weapons, characters, and skins) for a fixed period.
Bobby Bao, Managing Director of Crypto.com Capital, said:
"IQ Protocol's wrapped expirable versions of digital assets are an innovative solution that enables collateral-less utility loans. We're proud to co-lead IQ Protocol's latest fundraising round and help pioneer new products alongside them."
IQ Protocol has been publicly active since mid-2021 providing token staking pools for projects such as PARSIQ and Mysterium with several more set to launch in the coming months. Since the announcement of the NFT rental functionality, the team has secured partnerships with prominent GameFi projects including Nyan Heroes, Battle Saga, Space Sip, Zone of Avoidance, and Spark Era, amongst other Esports and Metaverse projects.
Brian Johnson, Head of Operations at Republic Capital said:
“I
Read more on cryptonews.com
