OB1, the event firm behind decentralized on-line market OpenBazaar, has raised $5 million in a Series A funding spherical
According to a press launch, buyers within the spherical embrace Chinese bitcoin mining big Bitmain and Canadian VC agency OMERS Ventures.
While some blockchain corporations see preliminary coin choices as an alternative choice to conventional fundraising, gamers like OB1 clearly welcome each. Alongside the brand new VC funding, the startup nonetheless plans to launch its personal token later this yr, as announced at the Token Summit in San Francisco final December.
Also introduced right now, the platform will launch a verified moderators program later this week.
OB1 stated within the launch:
“Our plans for this year include releasing web and mobile versions of the application, as well as giving users new ways to trade with each other, such as making requests and buying and selling cryptocurrencies.”
The group added help for bitcoin money, zcash and litecoin in February. The objective for its personal upcoming token is to deal with ache factors throughout the platform, and finally the business.
“You have this massive amount of content that people are just dumping onto the decentralized web or into OB,” the agency’s CEO, Brian Hoffman, informed International Business Times. “And there’s no Google there to clean it up and serve it up nicely and organize it.”
“I think our first step is to look at how a token could allow merchants and advertisers to create compelling content and help build businesses,” he stated.
Ambitious although these plans could also be, the startup’s buyers embrace a few of the largest names within the cryptocurrency business.
Bitmain is the most recent high-profile addition to an inventory that already boasted Andreessen Horowitz and angel investor William Mougayar.
Business deal picture by way of Shutterstock