Capsule Corp Labs Secures €7.3M Seed Funding For Utility NFT Solutions

The funds were raised mostly in equity and partially in token sales from Ternoa, an NFT-centric blockchain developed by Capsule Corp.
Image source: FInSME

Quick take:

  • Capsule Corp is the developer of Ternoa, a Layer-1 blockchain that provides a technological stack to build utility NFTs.
  • Capsule Corp Labs provides developers of augmented NFT solutions with resources to build NFTs on the Ternoa blockchain.
  • The company has helped three NFT startups launch their products in the last six months.

France-based consulting and utility NFT company, Capsule Corp Labs, has raised €7.3M in a seed round led by Omnes Capital, Revam and Digital Finance Group, with participation from French angel investors from the Web3 industry, whose identities are undisclosed.

The funding comprises a €2.4 million ($2.33 million) token sale from Ternoa ($CAPS) and €4.8M ($4.67 million) in equity. Capsule Corp Labs will use the funds to strengthen its R&D and expand its 30-person team.

Launched this year, Capsule Corp Labs is the main integrator of Layer-1 blockchain Ternoa, which is an open-source decentralised Layer-1 blockchain that provides a developers with technological stack to build secure and scalable utility NFTs. Projects that are using Ternoa’s utility NFTs include Cross The Ages trading card game, MetaFight and more. 

Capsule Corp Labs provides “Business-as-a-Service”, meaning that developers can leverage the company’s resources to build, launch, run and monetize Augmented NFT dApps on the Ternoa blockchain. An Augmented NFT is a non-fungible token enriched with virtual components that communicate with the user’s environment at the user’s request. Ternoa’s Augmented NFTs turn into locked capsules in order to make digital assets confidential on the blockchain.

“Unlike the current NFT market, which operates very much like the art market– based on scarcity value, we believe that NFTs will increasingly have utility value. NFTs will initially be used in the development of sectors such as video games, music, entertainment, or the metaverse, and then gradually spread to other sectors of activity. Our role is to enable this transition from Web 2.0 to Web3, which can be technologically complex,” said Clément Téqui, CEO of Capsule Corp Labs and co-founder of Ternoa. 

The resources Capsule Corp Labs provides to developers include strategic planning, branding and marketing, product design, development, tokenisation, and launch. The company said it has already helped three NFT startups launch their products in the last six months.

“The concept of Business as a Service was first generated from Web 2.0, while Capsule Corp Labs innovates this model and upgrades it into a Web3 style enabling all sizes of companies to develop and launch NFTs products more easily,” said James Wo, founder and CEO of Digital Finance Group.

Capsule Corp Labs’ has helped launched 20 Mint, a blockchain project with the French newspaper, 20 minutes. The company is also assisting Editis, a French group of publishing companies, to identify use cases of NFTs in the publishing sector.

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