Yakoa Raises $4.8 Million in Funding Round

Yakoa, an NFT fraud detection initiative, had recently organized an investment round. The platform announced that it raised a total of $ 4.8 million in the investment round. Led by Volt Capital and Brevan Howard Digital, the round was also attended by investors such as Data Community Fund, Alliance DAO, Uniswap Labs Ventures, Orange DAO, Time Zero Capital, gmjp, and Sunset Ventures. With this capital, Yakoa will grow the data engineering team internally.

What Does Yakoa Provide?

Yakoa provides tools to detect duplicates and violation possibilities in the original NFTs, from direct forgery to partial or formal forgery. Then informs brands, creators and platforms about fraudulent activities.  

CO-Founder of Yakoa Andrew Dworschak said: “In terms of blockchains, having every blockchain is on our road map. The belief we have is it doesn’t matter where you mint IP or publish an address, what matters is that it’s publicly verifiable.”

Co-founder of Yakoa Graham Robinson said: “The entire ecosystem is open and we want to continue to make sure it stays that way. We’re trying to create the tools for the industry to use and they can use it in their environment.”

Co-founder of Yakoa Andrew Dworschak : “When we’re doing an attribution search, we’re trying to figure out where an asset might be derived from and give as much information as we can. Two assets can be similar and not fraudulent and that’s completely appropriate. There’s a lot of edge cases we need to be aware of and other ones that pop up in a similar vein and some use cases we take on as a platform and give people the chance to record their opinion.” and he added. “It has created types of assets not bound to a specific platform that allows creators to publish their assets and trade them freely across platforms. It’s a brand new method of commerce and it’ll spill over to what’s unimaginable today.”

Source: yakoa.io

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