1. Startups

Tokocrypto Injects Five Blockchain Developer Startups, Nanovest is One of them

Funding was done last year with the company's own funds; some are participants of the Tokocrypto Sembrani Blockchain Accelerator

Tokocrypto reveals it has invested in five startups blockchain in Southeast Asia in order to support a more massive web3 ecosystem. It is not stated the nominal amount that the company disbursed for the five startups, but it is confirmed that this investment is in the early stages.

The names of the five startups are Avarik Saga (Indonesia), Play it Forward DAO (Singapore), Avarta (Singapore), Diamond Protocol (Singapore), and Nanovest (Indonesia).

To DailySocial.id, Founder & CEO tokocrypto Pang Xue Kai said all the funding was carried out from the company's own pocket and took place throughout 2021 yesterday. The company's desire to invest is because it is nothing but a form of support in order to stimulate the web3 ecosystem in Southeast Asia.

"The focus now is on identifying more web3 startups, and we do this through a series of incubation and acceleration programs that we launched through TokoLabs," said Pang.

It also opens up the possibility to involve Cydonia Fund participate in this funding. This is fund specifically formed by Indogen Capital and Finch Capital by collaborating with Tokocrypto. This managed fund has a mandate to invest in the development of a global-scale web3 ecosystem and become a liaison for industry players.

“With the development of the digital asset ecosystem, investment is now not only in the form of equity shares, but can also be in the form of tokens or coins. As venture capital, we have investment own thesis. This is why we formed one fund recently invested specifically in companies in the form of tokens or coins,” said Indogen Capital Managing Partner Chandra Firmanto at the inauguration of the Cydonia Fund some time ago.

The following is a more detailed explanation of the startups funded by Tokocrypto:

1. Avaric Saga

This local startup is GameFi which carries the concept of Japanese RPG games (role playing game) 2D on the Ethereum network. Leveraging blockchain technology, Avarik Saga allows players to gain economic benefits through rewards games for their contribution. Kevin Cahya as the founder and his team admitted that they made this game project because it was inspired by the phenomenal P2E game Axie Infinity.

Avarik Saga is one of 13 startups blockchain who participated in the first batch of the Tokocrypto Sembrani Blockchain Accelerator (TSBA) program. The game they developed is the first to receive development support from Tokocrypto's complete blockchain ecosystem, namely TokoVerse. The game itself will be officially launched in the next third quarter, currently still on sale NFT collection which is sold on OpenSea.

2. Play it Forward DAO

Play It Forward DAO is a unique combination of guild management platform (P2E Board) and guild large scale consisting of more than 3.000 scholars (PIF Guild). Allows broad access to games play-to-earn, PIF DAO is positioned as Metaverse's growth engine plug and play

Just like Avarik Saga, this startup from Singapore is also included in the first batch of TSBA. Earlier this year, PIF DAO announced a $6 million fundraiser led by Signum Capital. Tokocrypto and BRI Ventures be among the investors who participated in the round.

3. Avrta

Avrta overcomes the authentication and identification challenges that span traditional and blockchain applications. This startup is developing a multi-chain crypto wallet that gives users blockchain unrivaled security. Blockchain applications leverage advanced solutions for user identity checking and authentication including keyless biometric technology, TrustScore system, and whitelisting. Offering military-grade security protocols, Avrta's multi-chain wallet fosters a DeFi environment for users to trade with confidence without fear of fraud.

4.Diamond Protocol

This Singapore-based startup was initiated by Coinomo and has not been officially released. Diamond Protocol is a modular vault protocol that allows anyone to get up to 20% of APY results.

Coinomo was established after Turn Capital acquired Dapp Pocket (a Taiwanese crypto wallet player) and Cappuu (a service yield aggregator). Coinomo is an application that allows users to buy and sell cryptocurrencies and participate in various return on investment (DeFi) products. The application has been released in beta for the Indonesian and Taiwanese markets since June 2021.

5. Nanovest

This is marketplace digital asset investment product and overseas shares made by the Sinar Mas Group. This startup is also incorporated into the TSBA. Although it has not been officially released, Nanovest offers the convenience of buying global shares and crypto assets starting from IDR 5. Tokocrypto is the platform provider to accommodate crypto transactions on Nanovest. As for global stocks, the company partners with brokers registered with the United States Financial Industry Regulatory Authority (FINRA).

Not only marketplace, Nanovest has also started its own yet-to-be-launched crypto token project—named NanoByte Token (NBT), collaborating with entities in Singapore. NBT is a decentralized financial solution, with real-world use-cases to drive mass crypto adoption in Indonesia. NBT will be native crypto tokens in the Nanovest app.


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