What is Upshot?
Upshot operates as a protocol that leverages appraisal games to encourage honest responses to subjective queries. Its primary product is designed to establish an efficient price-discovery mechanism for Non-Fungible Tokens (NFTs). By compensating experts for their accurate appraisals, Upshot aims to create new avenues for professional engagement and enable a suite of powerful decentralized finance (DeFi) primitives. This innovative model addresses a critical need for reliable valuation in the rapidly evolving NFT market.
How much funding has Upshot raised?
Upshot has raised a total of $29.5M across 1 funding round:
Series A
$29.5M
Series A (2022): $29.5M with participation from CoinFund, Framework Ventures, Blockchain Capital, Polychain Capital, Mechanism Capital, Slow Ventures, and Delphi Digital
Key Investors in Upshot
CoinFund
CoinFund is a blockchain-focused investment firm established in 2015, dedicated to advancing digital assets and decentralized finance. They invest in and support venture and liquid opportunities within the blockchain sector.
Framework Ventures
Framework Ventures, founded in 2019 and based in Toronto, is a venture capital firm concentrating its investments on companies within the blockchain technology space.
Blockchain Capital
Blockchain Capital, one of the earliest venture investors in blockchain, was founded in 2013 to support entrepreneurs building blockchain-based companies. They invest across multiple stages in both equity and crypto assets.
What's next for Upshot?
The substantial enterprise-level funding Upshot has garnered positions it for significant scaling and further development of its appraisal protocol. With strategic investments from prominent blockchain-focused firms, Upshot is poised to enhance its market penetration and solidify its position as a leader in NFT valuation and DeFi innovation. Future growth will likely involve expanding its expert network, refining its game-theoretic mechanisms, and integrating its services across a broader spectrum of blockchain applications, thereby driving deeper liquidity and more robust financial instruments within the digital asset ecosystem.
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