Data Privacy-Focused NFT Startup Raises $2.3 Million In Seed Funding

Blockchain startup Snickerdoodle Labs has raised $2.3 million in a seed funding spherical

The corporate, which goals to make use of non-fungible token (NFT) expertise to construct a platform that protects consumer privateness and information, was co-founded by PayPal's former head of blockchain technique Jonathan Padilla. 

In accordance with a Friday announcement, the seed spherical was led by Hong Kong-based blockchain funding agency Kenetic, with participation from enterprise capital funds Blockchain Capital, Struck Ventures, Zilliqa Capital, FTX, Sam Bankman-Fried, Tribe Capital, and Zinal Development. 

The startup goals to "construct a dynamically safe information financial system that creates worth for all stakeholders," by constructing an information financial system that allows customers to personal and monetize their information in a safe means.

Padilla argued that Snickerdoodle is totally different from different NFT ventures in that it focuses extra on commercializing the tokens reasonably than simply have them signify digital objects. It plans to do that through the use of NFTs because the cookies of the Net 3.0 ecosystem, utilizing the tokens to assist what the corporate calls "the event of business and industrial NFTs."

"Snickerdoodle is about reimagining the web and empowering people," Padilla stated in an interview with The Block. "It is a utterly novel thought."

Padilla stated whereas the platform is designed for the creation of business and industrial NFTs, NFT creators can profit too. He stated Snickerdoodle is already speaking to a variety of artists and stated that is merely one other means for them to generate income by having their content material plug into a number of mediums.

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