Ayoken, a digital collectibles marketplace, revealed that it has secured $1.4 million in pre-seed capital to assist users in growing their revenue streams through digital artifacts.
The round included investors such as Founders Factory Africa, Texas-based Kon Investments, Europe-based private equity group Crypto League, Ghana-based R9C Ventures, and Maximus Ventures.
In addition, the startup’s marketplace, known as Ayokenlabs, serves as a bridge between fans and artistes, giving fans a stake in their idols’ success.
According to Joshua King, Founder and CEO of Ayoken, this means fans will be able to obtain tokens like behind-the-scenes videos and album art through the NFT marketplace.
Also, NFT holders will receive additional benefits like access to previously unreleased music and exclusive live events hosted by the creatives.
Per King, VIP passes will allow fans to listen to music by these artistes before it is available on Spotify, YouTube, or Apple Music. They will also receive discounts for future events.
Ayoken intends to release NFTs of some major African artistes and others from around the world in the coming months. The startup has already collaborated with Ghanaian Afrobeats artiste, KiDi (Dennis Nana Dwamena) for his first NFT release on June 1, 2022.
Moreover, Ayokenlabs will feature digital collectibles from sports brands and influencers all over the world.
While most of the funds will be used to acquire exclusive licenses and to quadruple the size of its tech team, the company plans to use the funds to sign exclusive deals with artistes and partnerships with telcos