Tinytap, ANIMOCA's subsidiary, concludes finance of $ 8.5 million

Tinytap, ANIMOCA's subsidiary, concludes finance of $ 8.5 million

tinytap-a technological start-up that enables users to create various educational play-based activities-secured a fundraiser of $ 8.5 million

The company that is an Animoca Brands' blockchain gaming platform will use the funds to accelerate its product development and set more personnel.

• Several giants in the financial sector led the million -dollar financing round, including Sequoia Capital, Liberty City Ventures, Shima Capital and Kingsway Capital. Polygon also participated in the financing.
• The TinyTap company based in Tel Aviv said that the money would use to expand its team and improve product development. Co -founder Yogev Shelly claimed that the company should secure the fundraising campaign last year, but the uncertainty on the cryptocurrency market stopped the efforts:

"We started in October and reached 80 % of our goals in the round within a month. By November, some major investors who had temporarily agreed to the financing had to give up due to certain consequences and increasing uncertainty. As a result, it took a little longer until the round was closed, and we had to prove more."

• tinytap jumped on the crypto train last year by introducing publisher non-fungable tokens (NFTS).
• Yat Siu, co -founder of Animoca Brands, believes that the step for teachers and educators who are the main customers of the application was an advantage:

"Teachers and educators are among the most important creators and participants of content in society, and yet their salaries generally do not reflect their crucial importance. For this reason, we are incredibly happy about the web3 options that TinyTap is researching in the education sector."

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