Lasso Labs, a discovery platform for NFTs, recently announced that it raised $4.2 million in an investment round led by Electric Capital. Venture Capitals such as Ethereal Ventures, Village Global, OpenSea and Page One Ventures were participated in investment round. Apart from them, there were angel investors such as Sriram Krishnan (Kearny Jackson), Chandan Lodha (CoinTracker), Will Papper (SyndicateDAO), David Choi (MetaStreet), Soso Sazesh (43), Coinbase, Google, Phantom, Celestia.
Believing that the usage area of NFTs will expand further and be used as a true declaration of ownership in the future, the company aims to accelerate the trend towards NFTs with tangible benefits. Explaining that there is a significant acceleration even in difficult market situations (i.e. bear market) today, the company has indexed more than 10,000 NFT projects with the associated off-chain data so far.
Beta Testing
Alongside the announcement of the investment round, Lasso Labs announced a beta testing program for its first product, which will be accessible only by invitation. This project, which is in the beta testing phase, is a discovery platform. It provides its users with real-time information and view on issues such as any access, copyright, or rights about NFTs.
Stating that it is currently difficult for users to understand these utilities added to their NFTs, the company underlines that it is equally difficult for project developers to introduce the utility after their tokens are printed. The reason for this is that while NFTs are on-chain, they state that the benefit records specified are off-chain.
At the same time, Lasso eliminates the difficulty arising from the proper installation of the token-gating infrastructure with the data platform and in terms of sustainability. With this platform developed by the company, real-time data is obtained from on-chain or off-chain sources. The information received becomes accessible to users after verification by the platform’s own internal mechanism.
To sum up all these things; Lasso Labs makes their users stay up to date in an industry where there are new developments every minute. Additionally, it provides analytical data for a better understanding of different communities and entities.
