NFT platform Cryptomeda today announced the successful closure of its strategic funding round.
Cryptomeda Closes Strategic Funding Round
According to an announcement made today, the Cryptomeda team has successfully closed its seed and a private round of its token sale. The funding round was led by AU21 Capital, x21, and Metrix Capital and also received support from several crypto industry investors.
Most notably, Cryptomeda successfully raised $2.7 million in the strategic funding round from notable partners, global funds, and communities.
With regard to all the supporters, the announcement reads in part:
“Cryptomeda supporters now include Spark Digital Capital, Blocksync Ventures, GD10 Ventures, AngelOne, Peech Capital, Lotus Capital, Moonwhale, Kardia Ventures, LVT Capital, Raptor Capital, Bigcoin Vietnam, Llama Ventures, Magnus Digital Capital, Signal Ventures, In square Ventures, Blockpact Capital, Minted Labs, Titans Ventures, Megala Ventures, Ventura Capital, Lupa X Capital, CSP Dao, and Black Dragon.”
What is Cryptomeda?
For the uninitiated, Cryptomeda is a blockchain project committed to create a fantasy NFT ecosystem which would essentially be a new kind of entertainment geared toward mass adoption. In a nutshell, Cryptomeda is a fun-based entertainment platform that offers users multiple opportunities to earn crypto-collectibles and trade them seamlessly.
Cryptomeda is powered by the TECH token – an ERC-20 token standard with multiple utilities such as staking, trading cards in the platform’s marketplace, buying special items in the mobile game, governance, and voting to chart the future course of the project.
Cryptomeda differs from the vast majority of crypto projects in that unlike the stress-inducing crypto trading markets, it aims to create a simple, fun, and entertaining platform of NFT collectibles that is geared toward widespread adoption. The blog post reads in part:
“Unforgettable events and characters from the real world are reshaped into a fantasy story and the most important elements of the story are animated on rare collectible cards. All the collectibles are cryptographically unique, non-fungible, and immutably stored on the distributed ledger.”
Further, Cryptomeda aims to make the crypto landscape as safe as possible by mitigating open NFT market threats such as frauds and fake copies.
The successful closure of the recently concluded funding round will enable Cryptomeda to cement itself as a leading project that is committed to revolutionizing the crypto industry.
Cryptomeda has integrated Chinlink’s own Verifiable Random Function (VRF) on the Polygon blockchain network to generate randomized attributes. Chainlink’s oracle network is completely decentralized and one of the topmost in the industry. Hence, the assimilation will fortify the security of the source of generation of randomized attributes and make it auditable enough for equitable and verifiable distribution of the prizes. Cryptomeda hopes that this process will lead to a user-friendly, attractive, and forgery-resistant experience. The clients will be able to indulge in game-playing and wagering with utmost trust in the system.
A vast and unique fantasy-themed universe of Non-fungible tokens (NFTs), Cryptomeda germinated out of the need to help crypto aficionados get the experience of interacting with NFTs. The universe comprises NFTs inspired by real-life individuals and the most popular events from crypto space. Cryptomeda’s Non-fungible tokens are all based on cross-game resources.
The ever-increasing nature of the Cryptomeda ecosystem will also prove the necessity of the NFTs, along with creating a long-lasting rapport with the customers by rewarding them. For instance, in their most prized game, Meda Wars, players can combat using NFT cards to get early access to NFT launches, rank up, and win TECH tokens. The company also allows trading of the cards in their market area.
However, it is imperative to ensure that the reward system is fair, transparent, and can be independently audited by the users, generating the need for a tamper-proof Random Number Generator like Cryptomeda. Chainlink’s VRF is ideal for such smart contracts, for it has been built only after rigorous academic research, and its oracle network has stood the test of time. Unless the data fed through Chainlink VRF is tamper-proof, the Cryptomeda smart contract won’t accept it. Hence, users can rest assured that there is no chance of a security breach of the Cryptomeda chain, even by the core team.
