Quick take:
- Spaceport has raised $3.6 million in a pre-seed round.
- The fundraising was co-led by Korean gaming studio Com2uS’ venture CRIT Ventures, digital assets VC Arca and blockchain innovation fund Decasonic.
- Cozomo dé Medici (Snoop Dogg’s crypto pseudonym) also participated in the round.
Spaceport has announced a $3.6 million funding round co-led by Korean gaming studio CRIT Ventures— the venture arm of Korean web2 and mobile gaming studio Com2uS, digital assets VC Arca and blockchain innovation fund Decasonic.
The fundraising also attracted participation from Cozomo dé Medici (Snoop Dogg’s crypto pseudonym), Diaspora Ventures, Infinity Ventures Crypto, FBG Capital, Nextview Ventures, Republic Asia and Valhalla Ventures.
Founded by entrepreneurs Le Zhang and Lida Tang, Spaceport was created to help creators monetise their intellectual property rights with ease by giving them access to the metaverse.
“We built Spaceport to give creators and brands the ability to monetize their IP faster and more easily than ever before,” said Le Zhang, Co-Founder and CEO of Spaceport. “We’re thrilled to have the support of such an incredible lineup of investors and partners and look forward to working together to expand the licensing market and open the door to a new programmatic approach to monetizing IP.”
Web3 is a blockchain-based internet that prioritises decentralisation, community ownership and trustless communications. The technology has attracted an influx of brands and mainstream tech giants as they look to position themselves strategically.
Dubbed the next iteration of the web, web3 provides brands and creators with an opportunity to licence their intellectual properties enabling them to earn royalties from secondary trading of their assets.
Traditionally, licensing intellectual properties can be a long and expensive legal process, which often puts off individual creators preventing them from monetising their IP.
Spaceport says its web3 licensing “protocol and first application, Spaceport Core, solves these inefficiencies by providing a streamlined, one-stop-shop approach to monetizing IP for creators, brands and agencies.”
Commenting on his company’s decision to co-lead the pre-seed round, Kyu Lee, CEO of Com2uS USA and Partner at CRIT Ventures highlighted the mobile and online game developer’s commitment to supporting projects that seek to bring web3 to the mainstream.
“The licensing infrastructure that Spaceport is building will be fundamental to bringing the world’s favourite brands and games onto the blockchain.”
The publicly traded Com2uS is one the leading online game developers in the world with its franchise Summoners War having already generated billions of dollars in sales. Other titles produced by the Korean gaming giant include MLB 9 Innings, Ace Fishing: Wild Catch, and NBA Now.
Paul Hsu, Founder and CEO of Decasonic commented: “Spaceport unblocks a key challenge for creators to adopt Web3 by aligning value creation with their IP. Their licensing infrastructure is accessible, easy to use and drives accretive revenues.”
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