Web3 Co-Ownership Platform Lore Raises $4M in Strategic Round Led by Multicoin

The platform is currently in public beta and allows groups of people to share non-fungible tokens (NFTs) to expand access and utility.

Web3 Co-Ownership Platform Lore Raises $4M in Strategic Round Led by Multicoin

Lore, a San Francisco-based co-ownership platform for Web3 collectives, has raised $4 million in a strategic funding round led by Multicoin Capital. This capital will enable new use cases and expansion to additional blockchains beyond Ethereum, including Polygon and Solana.

Lore, currently in public beta, is a platform and protocol that facilitates the joint ownership of non-fungible tokens (NFTs) by the Web3 creator community and gaming guilds, opening up new ownership and usage options. Co-owner collectives can pool resources, issue ownership to members, and distribute funds in an automated management setting. Collectives can easily access mints, stake assets or play NFT-based games. Lore also acts as a social network of sorts, making it easier for new members to connect with collectives.

“The internet bundled us into communities based on shared interests and goals, but collaboration largely stopped there. Lore gives communities of all sizes a new way to take action, and to ultimately achieve the goals that bind them together. Lore turns niche communities into hubs for cultural curation, wealth creation, and commerce. As more opportunities emerge in virtual worlds, Lore will be there to help strangers and friends from all over the world to pool resources to seize opportunities.” – said Lore co-founder and CEO Thomas Scaria in a press release draft.

Lorе launched last summer and previously required NFT ownership to join the platform. The public beta is now open to the experience for any interested user. Web3 communities that have used the platform include Proof, Friends With Benefits, Seed Club, Memeland and Azuki. The round comes as investment in crypto startups is slowly gaining momentum after almost stalling due to the bear market and several high profile scandals.

Among other investors in the round are Seed Club Ventures, North Island Ventures, Balaji Srinivasan, Zeneca, Mischief Ventures, Sfermion, CMT Digital, Patricio Worthalter, Spice Capital and Sublime Venture. Lore has now raised $7.15 million to date.

Source

www.coindesk.com

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