What is Upshot?
Upshot operates as a protocol designed to incentivize honest responses to subjective queries through appraisal games. Its primary offering is an efficient price-discovery mechanism for Non-Fungible Tokens (NFTs). By compensating experts for accurate appraisals, Upshot unlocks new avenues for professionals and enables a suite of powerful decentralized finance (DeFi) primitives, positioning itself at the intersection of blockchain technology and asset valuation.
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 Slow Ventures, Delphi Digital, Framework Ventures, CoinFund, Blockchain Capital, Polychain Capital, and Mechanism Capital
Key Investors in Upshot
Delphi Digital
Delphi Digital is a leading cryptocurrency research firm, providing cutting-edge insights and updates to a community of over 30,000 investors and venture firms.
Framework Ventures
Founded in 2019 and headquartered in Toronto, Canada, Framework Ventures is a venture capital firm with a focus on blockchain technology companies.
CoinFund
CoinFund is a blockchain-focused investment firm founded in 2015 with the goal of shaping the global transition to digital assets and decentralized finance. The firm invests in and supports venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies and key enabling infrastructure. The CoinFund team has studied and supported the development of the blockchain space from the inception of the first decentralized networks and brings together more than 30 years of experience in investing, engineering, law, decentralized protocols and the operation of blockchain network infrastructure.
What's next for Upshot?
This substantial strategic investment, following a Series A round, indicates Upshot is poised for significant scaling and further product development. The company's focus on creating robust price-discovery for NFTs and fostering DeFi innovation suggests a trajectory aimed at capturing a larger share of the digital asset market. Future growth will likely involve expanding its expert network, enhancing the appraisal game mechanics, and integrating its protocol with a broader range of DeFi applications.
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