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Ayoken, a NFT marketplace targeting Africa’s creatives, is eyeing expansion after a $1.4 million pre-seed funding.
The startup is offering creatives the chance to create several NFT collectibles from their work and images, which will be available for sale to global audiences.
As was revealed in a Techcrunch article, some of the participating investors in Ayoken’s first raise include:
- Founders Factory Africa
- Kon Ventures of Texas
- Crypto League of Europe
- R9C Ventures of Ghana
- Maximus Ventures
Ayoken is building a platform that will feature digital collectibles from musicians, sports brands, and influencers from all over the world.
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SEE ALSO: [EXPLAINER GUIDE] How to Mint an NFT on the Momint Marketplace in 7 Simple Steps
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The marketplace only launched on June 1, 2022 when it put up its first collectibles following its first partnership with Kidi, a Ghanaian musician. From a tweet, the platform is offering fans the chance to buy NFTs of behind the scenes footage as well as ‘exclusive access to virtual parties.’
🎁Get exclusive access to virtual parties, behind the scene footages and many more from Ghana’s biggest artist @KidiMusic
Did you also know that you’ll get total refund in $AYO token equivalent to the amount spent to purchase any of KiDi’s series 1 NFT. pic.twitter.com/0XbVHPv2kc
— Ayoken Labs (@ayokenlabs) June 1, 2022
The cross-chain marketplace, built on Avalanche blockchain, allows crypto and card payments but plans to add mobile money as the startup makes it easier for people in emerging markets like Africa to trade with ease.
King said they are negotiating partnerships with a number of telcos in the continent to make this a reality.
One of the NFTS minted by Kidi on the platform is called KiDi VIP PASS, which is a short video file of a likeness of the musician in a transparent enclosure that turns left to right. In its description, the NFT will bring its buyer the following benefits:
- Rewards fans with free KiDi NFTs from future drops
- Discounts at physical & virtual events
- Exclusive virtual party with KiDi
According to Joshua King, Ayoken founder, a majority of the funding will go into buying exclusive licenses and into building its tech team, that is the developers and engineers, by 4-fold.
Ayoken also intends to use the funds generated to secure exclusive deals with musicians and form relationships with telcos.
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