Animoca Brands have led a funding round which saw their fellow Hong Kong-based company, Ucollex, raise $10 million. Ucollex, an NFT marketplace established in 2020 that sells digital collectibles of toys and pop culture, claim that the financing round has increased the value of the company to $110 million.
The round also included participation from MCP IPX One Fund, an investment fund established by the Japanese branch of MCP Asset Management and Animoca Brands.
The new capital will be used to strengthen the Ucollex team and platform, with the company’s co-founder and CEO Robert Tran saying that the company aims to deliver an experience that combines digital collectibles and entertainment through unique features such as ‘virtual artwork battles’.
Tran added in his written statement: “We believe there is still a lot to do to turn collectors from being passive supporters to becoming an integral and active part of the development process. As long as more creators are emerging and content is growing at the pace that we have experienced in the last few years, there will be tremendous growth for Ucollex”.
As you may already know, the finance capital of Hong Kong has emerged as a central hub for NFT and general Web3 developments, meaning that the link up between the two residing companies is one of many investment-related endeavours to come amid the vast roll out of NFT projects in the region.
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