Web3 loot box development company Loot Labs has completed a $1.5 million Pre-Seed funding round, led by BITKRAFT Ventures

2023-05-27 10:57:11

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ChainCatcher news, according to mobidictum, the Web3 loot box development company Loot Labs has completed a $1.5 million Pre-Seed funding round, led by BITKRAFT Ventures, with participation from Polygon Ventures, Mechanism Capital, Lofty Ventures Syndicate, and video game streamer Hammoudi Yassuo Abdalrhman. The new funds will be used for product development, marketing efforts, and establishing partnerships to enhance community engagement with existing assets on the Web3 loot box platform Boxed.gg.

Milan Harris, founder and CEO of Loot Labs, previously served as an executive for the NFT project Cool Cats. Loot boxes are similar to virtual treasure chests commonly found in games, allowing NFT buyers to acquire digital collectibles fairly and transparently by publicly disclosing unpacking probabilities and dynamically adjusting prices based on real-time market data. (Source link)

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Loot Labs investment and financing

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