Blockchain Startup “Ekta” Receives IDR 891 Billion Funding from Global Emerging Markets

Tech development startups blockchainappendix announced the acquisition of $60 million (over 891 billion Rupiah) in funding from Global Emerging Markets, a New York-based alternative asset investment group. The injection of funds will be used to prepare a series of powerful products blockchain as marketplace NFT, exchange platform hybrid crypto, game based blockchain, and real estate investment.

“The funds will be used for the development of the Ekta ecosystem, liquidity for NFT marketplace and hybrid exchange, game development plant-to-earn MetaTrees, marketing and building a technology team,” said Tanco.

Launched in August 2021, Ekta stands as one of the most focused decentralized protocols for aligning blockchain with the physical world. Headquartered in Bali, Indonesia, the company was founded by Berwin Tanco (CEO), Yog Shrusti (CSO), and Jason Zheng (CMO), and now has a total team of 75 people worldwide.

In the blog submitted, the founders of Ekta have a vision to empower blockchain in giving everyone the opportunity to live a better life. For that, Ekta made use of the power blockchain to create a new and transparent ecosystem, allowing everyone from all backgrounds to participate.

The mainnet that Ekta is developing, called EktaChain, tokenizes real-world assets, such as property, music, art and gold. Ekta token holders will be able to transact and interact with financial products to grow their wealth, earn money by playing games, buying and selling digital and tangible assets. All of these products will be combined in one super app.

“This app will be a Web2 practice with a Web3 backbone, so people will easily get involved and don't have to know that there is a crypto or blockchain behind it,” added Ekta CIO Sven Milder.

Ekta Products

As is known lately the crypto market is bearish, has an impact on Web3 perusahaan company most. However, Tanco remains optimistic, because the company has a unique proposition that will ultimately provide good benefits once the market recovers. “We are in a very good position during this period of decline as we believe the next trend is blockchain bridging to the physical world and Ekta has been doing so since 2021.”

Ekta will create a cross-chain NFT platform for trading, staking, and the exchange of physical assets for digital asset representations. The Ekta NFT marketplace will serve as a bridge through which NFT developers and physical asset owners interact with other brands and individuals through their virtual collections.

Compared to similar players, Ekta is closely tied to real-world use cases, has value and utility, and is asset backed. NFT marketplace for example, will sell tokens that link real-world assets and values ​​with projects offered on its platform.

MetaTrees, game based on blockchain which allows players to earn crypto while playing an active role in conserving real-world natural resources. Meanwhile, Ekta Island, a 16-hectare land located near Bali and owned by time Ekta, will become a physical space fueled by electricity. blockchain and will offer token fractional investment and access to ordinary people.

One of Ekta's flagship products is the Ekta Portal, according to the company it is the world's first endpoint node to reward operators with crypto. By activating the device through the Ekta NFT Portal, operators can start earning a daily reward of 10 thousand Ekta tokens which will be divided by the number of active operators. Having NFT Portal Ekta automatically whitelists holders for all Ekta offerings, such as Ekta Island and MetaTrees.

By bringing blockchain solutions to traditional industries, businesses and physical assets, the company hopes to attract more people to the crypto world. “While 10% of people on the internet hold crypto, we are targeting the next 10% by building true utility and value for them,” said Tanco.