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YoloYolo offers a platform created to connect non-fungible token (NFT) owners with brands that have merchandise to sell. The company connects NFT intellectual property holders to brands and creators in the fashion and lifestyle industries, streamlining revenue models for the brands, as well as the NFT IP holders.
In a seed funding round from backers, YoloYolo raised $3.5 million from crypto-focused investment firm ParaFi Capital, Mirana Ventures, and Morningstar Ventures. The capital will be utilized for hiring more employees and bringing brands on board. Other participants in the funding include Signum Capital, Avalanche Ventures, UOB Venture, Genblock Capital, and Yolo Investments.
Individual investors included Neil Cunha-Gomes of SoftBank's Vision Fund; Mike Dudas, founder and former CEO of The Block; and Nicole Zhang, a former partner at crypto exchange Binance. YoloYolo has a partnership with DEKE, a streetwear brand in Asia. Other partnerships in progress include frisbee maker Europa, charging accessory brand Anker, and cooler brand YETI.
