Animoca Brands Leads $10M Funding Round for NFT Platform Ucollex

The platform, which doesn’t require buyers to own a digital wallet, focuses on art and pop culture collectibles.

AccessTimeIconFeb 23, 2022 at 7:48 p.m. UTC
Updated Feb 23, 2022 at 7:57 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

Ucollex, a Hong Kong-based non-fungible token (NFT) platform focused on art and pop culture collectibles, has closed a $10 million Series A funding round led by Animoca Brands and the MCP IPX One Fund from Japanese investment firm MCP Asset Management. The valuation of the company was not disclosed.

Animoca Brands has a portfolio of over 150 investments in NFT-related companies and decentralized products, including Dapper Labs and Sky Mavis.

Ucollex’s NFT platform doesn’t require buyers to have a digital wallet and offers exclusive content, artist interviews, 3D art and virtual reality experiences. Last autumn, it teamed up with crypto exchange Binance to support the first NFT launch from luxury fashion brand Jimmy Choo.

The new capital will be used to scale operations, including platform and blockchain tech development, Ucollex board member Roberto Grande told CoinDesk in an email. The funding will also help drive marketing efforts related to significant intellectual property (IP) partnerships, which will be announced soon.

“‘Collectortainment’ is going to be our core offering here as we look to bridge the existing global fandom for pop culture collectibles into the new paradigm of blockchain ownership and utility,” Ucollex CEO Robert Tran told CoinDesk.

“Anime, toy and pop culture illustrators are our major focus for 2022 as we believe these digital collectibles are shaping the new consumer spending in a very impactful way,” Tran continued.

Animoca Brands co-founder and Executive Chairman Yat Siu said in a press release that “we are pleased to lead this investment, which we believe will make it easier for intellectual properties to participate in the open metaverse.”

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.