AURA NETWORK RAISES US$2.5 MILLION TO LEVERAGE ADOPTION OF NFTS

KUALA LUMPUR, April 20 (Bernama) -- Aura Network, an NFT (non-fungible token) dedicated layer-1 blockchain based on Cosmos ecosystem, has raised US$2.5 million seed round to leverage the adoption of NFTs and accelerate its vision of building an interoperable future for Internet users. (US$1 = RM4.272)

NFT is considered the crucial building block for the Metaverse and Web3, which are believed to shape the next generation of Internet.

However, wide adoption of NFTs remains a challenge due to its unfriendliness to non-crypto natives and limited use cases to brands and general audience. Aura Network was built as the solutions for NFTs mass adoption and its remaining challenges, and pave the way for integrating applications to the Metaverse.

The seed round involved numerous well-known blockchain partners, including Coin98 Ventures, GBV Capital, Impossible Finance, Kucoin Labs, Kyber Ventures, GUILDFI, Avatar by Avalanche, MEXC Pioneer, TPX Ventures, Redline Dao and OIG. Other notable business partners – Vanda Capital, Deo Network, Ahamove, Ecomobi and Pencil Group – are also participating.

Aura Network Founder, Tran Hoang Giang, expressed confidence in the development of the platform - “Aura Network is delighted that our strategic partners recognise our infrastructure capability. We believe in the potential growth of NFTs and the future of interoperable, as well as the strength of our community and ecosystem.”

As a Forbes Technology Council member, Giang is part of Aura Network’s founding team of blockchain experts including FPT Software’s COO Tran Dang Hoa and former Masan Group’s CIO Steve Nguyen.

According to a statement, this seed funding will allow Aura Network to continue its aim of creating a universal framework for NFTs, maximising interoperability, and bringing Aura Network’s vision to the forefront of users globally. Additionally, building a strong community that supports Aura Network’s vision is imperative for its long-term ambitions.

Aura Network will release its Testnet at the end of Quarter 2 of 2022. Aura Network’s Mainnet will be launched in Quarter 3 of 2022. Aura Network is expected to be the leading layer-1 blockchain to assist users to access NFTs effortlessly.

-- BERNAMA