Quick take:
- Coinbase Ventures, Defiance Capital, and Saison Capital participated in the seed round.
- Gomu’s two main products are built on its NFT APIs, which are already widely available for developer adoption.
- The company’s core founding team has led executive teams at Coinbase, CoinMarketCap, Chainlink, Millennium Management and Zendesk.
Gomu, an NFT infrastructure and liquidity enabler, has closed a $5M seed round with participation from Coinbase Ventures, Defiance Capital, Saison Capital.
Several prominent angel investors including Carylyne Chan (former CEO at CoinMarketCap), Matthew Tan (Founder of Etherscan), Bobby Ong and TM Lee (Co-founders of CoinGecko), Mike Dudas (GP at 6MV), and Benedict Chan (VP Engineering at Chainlink) also joined the round.
The Gomu team comprises executives from leading Web3 platforms. Co-founder and CEO Spencer Yang was previously leading product at Coinbase focused on Derivatives, DEX and Coinbase Wallet. He also served as the VP of growth, revenue and operations at CoinMarketCap, including driving the acquisition with Binance.
Jeremy Seow, Gomu’s co-founder and VP of product, had led product at Chainlink and was previously VP of product at CoinMarketCap. Other team members were engineering and product leaders at other companies such as Millennium Management, Zendesk and CoinMarketCap.
The startup provides data, tools and products such as NFT API, NFT Hub and Collection.xyz for NFT communities, projects and developers to build and integrate native web3 applications and experiences for their users.
NFT Hub and Collection.xyz are Gomu’s two main products built on Gomu’s NFT APIs. The former is a white-labelled community hub and marketplace while the latter is an NFT liquidity incentive protocol with LP tokens and corresponding permissionless reward vaults.
Collection.xyz offers any individual with NFT and ETH tokens the ability to create a liquidity pool on NFT DEX Sudoswap and receive a tokenized representation of their ownership. NFT projects will be able to set the parameters that they are looking to incentivize by creating a vault which attracts NFT holders to create liquidity pools and stake their liquidity pool tokens against the vaults to earn rewards and incentives.
Capsule House, Loot, Sandbox, Otherdeed, Azuki, Memeland and Pudgy Penguins are some of the featured collections to create reward vaults to fund the first round of liquidity incentives for Collection.xyz’s launch.
“NFT holders and projects can easily incentivize liquidity for their favorite NFT collections, adding an essential building block in the NFTfi space,” said Spencer Yang, co-founder & CEO of Gomu, “The LP tokens of pools can also be collateralized for other protocol interactions. Reward vaults are just the beginning and we look forward to collaborating with the community to build more awesome blocks.”
In addition, Gomu is partnering with Mutant Cartel, an independent community of Mutant Ape Yacht Club (MAYC) NFT holders to launch the Mutant Hideout — the first community-owned hub for all MAYC holders. The Hideout will provide a place for MAYC NFT holders to gather and discover content, share information, and trade NFTs with each other.
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