Colexion a Celebrity NFT Platform Raises $5 Million from Polygon, Titan Ventures and Maven Capital

NFT Platform Raises Funding to Expand Operations in Asia

Colexion, a celebrity NFT platform that offers various additional services and experiences, has acquired over $5 million in funding, allowing the team to construct the infrastructure needed to push the NFT world into the mainstream. A customized virtual museum, numerous play-to-earn games, virtual competitions, and the metaverse are available via the authorized celebrity NFT platform.

The global NFT market generated over $23 billion in trading volume in 2021, according to crypto-data analysis platform DappRadar. NFTs quickly bridge the gap between our physical reality and the widely anticipated metaverse. With NFTs becoming more mainstream worldwide, several brands have forayed into the space. Adidas, Nike, Taco Bell, Coca-Cola, and Campbell are some international brands that have entered the industry.

Colexion has become Asia’s biggest NFT platform, drawing the interest of a number of private investors and supporters. The seed round brought in $1.8 million, while a private round brought in $3.2 million. Polygon, Jump Trading Investments, Alan Howard of Brevan Howard, HyperEdge Capital, C2 Ventures, GSR, Oracles Investment Group (OIG), Gains Associate, and a number of other notable names such as ZBS Capital, ICO Pantera, Titan Ventures, Good Games Lab, Maven Capital, and others contributed to both rounds.

Several launchpads, including Redkite, Prostarter, Scaleswap, Firestarter, and others, will support the native $CLXN utility coin. The token will be traded on a number of major exchanges. The token and NFTs will also be traded on the built-in marketplace as well as other Tier A exchanges.

The platform’s major goal is to license famous NFTs while keeping them accessible to the general public. Major Indian movie stars, international cricket players, and other worldwide sports and movie stars are among the celebrities, with each NFT being unique. The platform has also secured exclusive rights to a number of international cricket teams, Bollywood and Tollywood stars, TV personalities, different global and Indian sports leagues, and other great athletes.

The Future of Digital Art and NFTs

NFTs have gained widespread awareness due to large art transactions, which now account for about a quarter of all NFT sales. For example, an American artist known as Beeple sold his digital artwork for $69.3 million at Christie’s earlier this month, putting him among the “top three most valuable living painters.” Every time the owner of the NFT changes, he will earn a ten percent royalty.

Winkelmann’s success in the digital world is undoubtedly not unique. CryptoPunk #7804, one of the 24x24 pixel art pieces, sold for $7.5 million in March, while TrevorJones” Bitcoin Angel sold for $3.2 million.

In 2022, the NFT market is expected to grow even further. Like any other sector, it has its own set of hazards that purchasers should be aware of before investing. However, when it comes to art, it’s necessary to look at the item first – and then at its properties – because possessing something you don’t like has little value.

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