The Spaceport has secured $3.6 million in a pre-seed funding round for its Web3 licensing protocol that facilitates the monetization of intellectual property. Arca, Decasonic, and CRIT Ventures, the venture capital arm of Com2uS, a publicly-traded game developer, formed the investor group.
Further participation was noticed from Cozomo De Medici, Diaspora Ventures, Infinity Ventures Crypto, FBG Capital, Nextview Ventures, Republic Asia, and Valhalla Ventures.
“We established Spaceport to enable creators and businesses the option to monetize their IP faster and easier than ever before,” said Spaceport CEO Le Zhang in a statement. “We are ecstatic to have the backing of such an outstanding group of investors and partners, and we look forward to collaborating together to expand the licencing market and pave the way for a new generative approach to monetizing IP.“
Founded by tech entrepreneurs Le Zhang and Lida Tang, the Los Angeles-based enterprise is revolutionizing the licensing market with its groundbreaking technology. By combining traditional licensing practices with cutting-edge Web3 expertise, Spaceport is expanding the existing $300 billion licensing market into a massive multi-trillion dollar market. Through its platform, creators, brands, and agencies can monetize their IP faster and get more exposure in the ever-growing metaverse vertical. With Spaceport, the future of the licensing market is brighter than ever.
Paul Hsu, CEO of Decasonic, further mentioned, “By connecting value creation with their IP, Spaceport removes a major barrier to creators’ adoption of Web3. I believe smart contracts have a lot of potentials to enhance contracts and the licencing process. Spaceport’s licencing architecture is accessible, simple, and generates accretive profits.”
Navigating the licensing process for creators and brands can be laborious and time-consuming. With the rise of Web3 technology, however, the process is becoming more streamlined and accessible, enabling more creators and brands to benefit from the potential of this market. The technology is faster and easier to use, but it also offers an added layer of trust and transparency, ensuring creators and brands are paid their rightfully earned royalties.