Spaceport, a Web3 licensing protocol that allows seamless monetization of intellectual property, announced $3.6 million in pre-seed funding led by Arca, Decasonic and CRIT Ventures, the venture capital arm of publicly-traded game developer Com2uS. Other participants included Cozomo De Medici, Diaspora Ventures, Infinity Ventures Crypto, FBG Capital, Nextview Ventures, Republic Asia and Valhalla Ventures.
“We built Spaceport to give creators and brands the ability to monetize their IP faster and more easily than ever before”
Founded by serial tech entrepreneurs Le Zhang and Lida Tang, Spaceport was built to help creators, brands and agencies monetize their IP with greater velocity and to provide exposure to the metaverse vertical. The team combines traditional licensing know-how with seasoned Web3 expertise to grow the existing $300B licensing market into a multi-trillion dollar market.
Read: Lets Understand Crypto In A Laymans Language
“We built Spaceport to give creators and brands the ability to monetize their IP faster and more easily than ever before,” said Le Zhang, Co-Founder and CEO of Spaceport. “We’re thrilled to have the support of such an incredible lineup of investors and partners and look forward to working together to expand the licensing market and open the door to a new programmatic approach to monetizing IP.”
Licensing has traditionally been a pen-and-paper industry where deals can take months to transact. Smaller creators are also locked out of the market due to the overhead involved. Spaceport’s protocol and first application, Spaceport Core, solves these inefficiencies by providing a streamlined, one-stop-shop approach to monetizing IP for creators, brands and agencies.
“Spaceport unblocks a key challenge for creators to adopt Web3 by aligning value creation with their IP. Their licensing infrastructure is accessible, easy to use and drives accretive revenues,” said Paul Hsu, Founder and CEO of Decasonic, a Web3 native venture fund focused on mainstream adoption of blockchain. “I see large potential today for smart contracts to improve the licensing process and contracts.”
“Com2uS is fully committed to supporting the future of Web3 and its evolution into the mainstream,” said Kyu Lee, CEO of Com2uS USA and Partner at CRIT Ventures. “The licensing infrastructure that Spaceport is building will be fundamental to bringing the world’s favorite brands and games onto the blockchain.” Com2uS is the owner and creator of Summoners War, a multi-billion dollar gaming franchise, as well as the producers of titles including MLB 9 Innings, Ace Fishing: Wild Catch, and NBA Now.
Spaceport has already granted private access to their products through significant partnerships with media, gaming, and consumer goods companies that want faster, more streamlined licensing deals along with metaverse exposure. The team plans to use the funds raised to hire exceptional talent, supercharge partnerships with notable IP holders and build to a public launch of their products.
-
Read: Cybersecurity Timeline and Trends You Should Know Before Planning for 2023
[To share your insights with us, please write to sghosh@martechseries.com]
