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NFT startup Lysto raises $3 million in seed capital

The funding will help Lysto with product development and allow Lysto to invest in the expansion of its team.

November 11, 2021 / 02:29 PM IST

NFT startup Lysto has raised $3 million seed capital from BEENEXT, Better Capital, Cloud Capital and other investors, to democratise the global adoption of NFTs.

The round saw the participation of from angel investors and entrepreneurs from the Crypto Internet Industry, including Binny Bansal (co-founder, Flipkart), Sandeep Nailwal and Jaynti Kanani (co-founders, Polygon), Pradyumna Agarwal (Managing Director, Temasek), Nitish Mittersain (Founder, Nazara Games), Kunal Shah (founder, CRED), Ashish Hemrajani and Parikshit Dhar (co-founders, BookMyShow), Anupam Mittal (Shaadi.com), Ashish Gupta (founder,Helion Ventures), Kumar Sudarsan (founder, Qwikcilver), among others.

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Founded this year, Lysto will drive global adoption of NFTs as its APIs, tools and infrastructure enable anyone - from developers to creators to brands - with minimal or no knowledge of blockchain technology to reap the benefits of NFTs. With just a few clicks, any business or developer can integrate Lysto’s NFT solutions with their digital offerings.

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With its mission #NFTeverywhere, Lysto aims to take NFTs to 4 billion+ internet users through millions of use cases they are familiar with via thousands of everyday tech platforms they currently use. The funding will help with product development and allow Lysto to invest in the expansion of its team.

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“NFTs are becoming an integral part of business and culture. With its applications across industries, it is a multi-billion dollar industry, which is largely restricted to digital art and collectibles currently. As the market expands, we see that every e-commerce player, every production (entertainment, gaming, animation), and every brand would want to launch NFTs to raise funds and monetise their offerings,” said Sadiq Ahamed, founder and CEO of Lysto.
Moneycontrol News
first published: Nov 11, 2021 02:29 pm

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