October 17, 2022
By Anjali Kochhar
Non-fungible token (NFT) infrastructure company Gomu has closed a $5 million seed round, the company announced Wednesday.
Founded earlier this year, Gomu has launched two products, NFT Hub and Collection.xyz, which make it easier to grow NFT communities.
NFT Hub provides a customizable community hub and marketplace to NFT projects, allowing startup collections to build an online space for their holders more easily.
“NFT communities can create custom marketplaces and token-gated communities in minutes, all without having any prior experience with blockchain technology,” said Gomu in a statement.
Gomu’s other product, Collection.xyz, is a liquidity incentive protocol that makes NFTs more tradeable.
Yang and co-founder Jeremy Seow both previously worked at token data website CoinMarketCap, and also had stints at crypto firms Coinbase and Chainlink, respectively.
“NFTs’ large potential for real-world impact can only be realized if the surge of industry interest is paired with the right infrastructure to support that growth,” said Chris Sirise, Partner of Saison Capital, in a statement.
“We believe Gomu’s NFT Hub and Collection products are the rails required for a great end-to-end Web3 experience for communities and collectors in the space.”
With the global NFT market expected to grow from USD 3.0 billion in 2022 to USD 13.6 billion by 2027 at 35% Compound Annual Growth Rate (CAGR), the convergence of the digital and physical worlds will continue to take shape.
As demand for digital arts and the adoption of cryptocurrencies continue to grow across the world, non-fungible items will make up a larger asset class than fungible items in society. The financialization and proliferation of NFTs will continue to grow and Gomu is well poised to contribute to its underlying architecture.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.