Powerful blockchain and NFT service for Metaverse live events gains major capital.
This week, Highlight secured roughly $11 million in a seed funding round led by Haun Ventures, an investment firm dedicated to cryptocurrency assets and solutions. Additionally, Highlight received funding from other investment groups, including 1kx, Polygon Studios, Coinbase Ventures, SciFi VC and Thirty-Five Ventures. Investors did not confirm the price of the acquisition.
The funding enables Highlight to scale its end-to-end solution, allowing creators to establish communities centred on Web 3.0 assets, including NFTs and blockchain services. The platform also allows users to create, mint, and distribute NFTs online on various marketplaces such as OpenSea.
The Co-Founder and CEO of Highlight, Nathaniel Emodi, added:
We have a vision of making Web 3 accessible and intuitive and simple for mainstream creators and mainstream fan bases.
Highlight incorporates its Web 3.0 toolkit to support the emerging digital live events marketplace. During the pandemic, the live events scene had to turn to extended reality (XR) solutions to connect with fans. Firms such as Ristband and Wave incorporate NFTS, blockchain, and avatar customisation tools to create a personalised online Music Metaverse.
Highlight supplies the tools required to create NFTs and other blockchain goods for fans to buy during live XR events. Brands and artists using Highlight can create QR confirmation codes, token-gated Discord channels, and digital merch sales.
Additionally, the news comes after The HBAR Foundation, a nonprofit organisation accelerating Hedera network blockchain use cases, gained $100 million in April. The funding encourages immersive content creators to build business-to-customer (B2C) and business-to-business-to-customer (B2B2C) Metaverse experiences for the service.
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