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HomeDeFiCreatorDAO secures $20 million from top investors including a16z, Paris Hilton and...

CreatorDAO secures $20 million from top investors including a16z, Paris Hilton and The Chainsmokers

The decentralised organisation CreatorDAO, which assists creators with financial and technical assistance, has successfully secured $20 million in seed funding. The fundraising success reflects a wider trend in the decentralised creative space, which has seen strong growth in the last year

This round was headed by the cryptocurrency-friendly venture capital company a16z as well as Initialised Capital. The following companies also took part in the venture: 2 Ventures, M13, Audacious Ventures, 6th Man Ventures, Abstract Ventures, SV Angel, Hack VC, Fika Ventures, Fuel Capital, Goldhouse, Soma Capital, Alliance DAO, Shima Capital, Olive Capital, Kygo’s Palm Tree Crew, MGU Capital, Position Ventures, and Alchemy Ventures. According to a statement made on Tuesday, additional people, in addition to Paris Hilton and The Chainsmokers, participated in this round of funding as well.

For creators to be eligible for assistance, they need to apply to CreatorDAO. Those that are chosen will get financial assistance, mentoring, and technology tools to assist them in developing their brand and producing new content. In return for the assistance, CreatorDAO will keep a certain percentage of the revenue generated by the creative.

A variety of initiatives, like CreatorDAO, have the goal of providing cryptographic tools for content producers. Social tokens are a kind of cryptocurrency that is related to a creator’s community. Startups such as Roll and Rally are investing in social tokens.

Read more at Cryptoshrypto:
Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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