Galaxis Raises $10M from Chainlink and Other Investors

Credit: Galaxis

In preparation for its upcoming token launch, the Singaporean-based Web3 startup Galaxis has raised $10 million from backers including Chainlink, Rarestone Capital, Taisu Ventures, Ethereum Name Services (ENS), and ENS co-founder Nick Johnson.

The successful fundraising round was announced on Tuesday. It also included profits made from the platform’s node sale of over 11,000 ‘Galaxis Engines.’

Galaxis, which refers to itself as a “post-hype NFT utility platform,” has launched NFT collections with celebrities including DJ Steve Aoki, actor Val Kilmer, and NBA all-star LaMelo Ball. Over the past few years, the company has sold over 225,000 NFTs and generated more than 32,000 ETH ($100 million) from secondary sales.

According to its CEO and co-founder, András Kristóf, the next step is for the “native GALAXIS token to supercharge the ecosystem.” He added that NFTs aren’t just hype, and that they can bring “real value to businesses and individuals” in industries outside of Web3. Kristóf was responsible for installing the first round of Bitcoin ATMs throughout Singapore.

Incubated by CoinMarketCap, Galaxis helps individuals and brands boost community engagement and create reward mechanisms to foster community directly via digital assets, with no need for any third-party engagement tools. Its services are also available to non-native Web3 communities.

The platform aims to enhance the relationship between creators and their fans by providing a set of interactive tools that build, engage, and monetize communities. It mainly works with athletes, artists, digital communities, and companies. Most recently, the startup unveiled a $1 million grant program for creators and community members.

Funds Are Being Raised Again in Web3

About a year ago, when crypto was immersed in a bitter bear market, successful fundraising rounds were hard to come by. But these days, Galaxis isn’t the only platform that’s been able to raise funds recently. At Rarity Sniper, we’ve covered several stories about Web3 companies attracting venture capitalist to invest in their projects. Here are some of the top headlines:

From augmented reality glasses manufacturers, DeFi protocols, and Web3 gaming projects, to entire countries such as Singapore investing in Web3 projects and technologies, the growing number of successful funding rounds appears to signal a change in sentiment in the Web3 space.

Time will tell if startups and Web3 platforms can continue to attract the investments they need to keep building in the space. But for now, Galaxis and its growing community of creators and fans, has reason to be excited for the future.

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