MOVE Network Raises US$1.5 Million in Seed Round by SMO Capital, The H Collective, DragonRoark Ve...
Updated: May 25
MOVE Network Raises US$1.5 Million in Seed Round by SMO Capital, The H Collective, DragonRoark Venture, and Soul Capit.
Progressive Crypto Company Will Use the Fund to Expand Globally as the World's
Leading Aggregator of NFTs.
TORONTO, ON / ACCESSWIRE / May 20, 2021 / MOVE Network, a blockchain crypto
start-up, announces today the closure of its seed financing round investment
of 1.5 million US Dollars by SMO Capital, The H Collective, DragonRoark
Venture which is a partner fund of DraperDragon, and Soul Capital. The
financing will be used to fund MOVE Network's continued global expansion and
for further development of its proprietary blockchain technology platform.
MOVE Network was co-founded and is led by experienced serial entrepreneurs:
Mr Ricky Ng, Co-founder, Chairman and current Group CEO of Aladdin Technology
Group; Adam Jacobs, Co-founder and former Founder of Strike; Daniel Bokun,
Co-founder and President of MOVE Network; Evan Kubes, Co-founder and President
of MKM Group.
"We are excited as this seed investment will provide MOVE Network expansive
resources, ownership of diversified IP and the ability to provide access to
unique NFT offerings for new and existing market participants." said Ricky Ng.
"The MOVE ecosystem is designed to support the upcoming NFT big wave with
different blockchain solutions. Cross-chain solutions are our major cut-in
point for NFT in the next phases."
"MOVE has begun the process to be publicly listed in 2021, enabling additional
investors access to this highly sought-after technology. The added investment
and partnership with The H Collective will create continued value for the film
industry, by giving filmmakers access to a new and growing channel of
exposure. Our MOVE Network will provide IP creators with ultimate control over
their assets, security and peace of mind for transactions done on the MOVE
Market - where exclusive content can be bought, sold, and traded by end-users
using cryptographic token assets across a multitude of IP categories including
entertainment, music, artwork and sports." said Daniel Bokun.
NFTs have completely disrupted the global marketplace and have redefined the
meaning of ‘value'. MOVE Network is capitalizing on this growth by supporting
industries to be more adoptive in using its NFT ecosystem. "Perhaps no
industry has been impacted greater by the proliferation of NFTs than
entertainment. We are extremely excited about the investment into MOVE Network
to launch the NFT project," said Kent Huang, Founder of The H Collective.
"Several companies have approached us about investment on NFT projects. We see
much potential in NFT and believe that the growth of streaming services is
causing a shift away from private film ownership in the film industry." With
the explosive growth of the NFT ecosystem in 2021, MOVE Network sets out to be
the largest global NFT aggregator, and a low cost, secure and highly
energy-efficient platform to support the fast-expanding NFT ecosystem.
"What attracted us to the MOVE Network is their product experience, management
team and extensive IP licensing. This combination gives MOVE Network a unique
value proposition over their peers. SMO is very proud to be a seed investor
and is excited to be able to leverage our mutual networks for adding even more
value to existing businesses and partnership." said Paul Howard, Managing
Partner of SMO Capital.
For more information, visit www.movenetwork.io
About MOVE Network
MOVE Network sets out to be the world's largest NFT aggregator covering a wide
spectrum of NFT products. MOVE Network allows enterprises and start-ups to
capture value today by using blockchain technologies to trade, stake, create
and auction assets. The MOVE Network comprises of the MOVE market, the $MOVD
token and the MOVE Chain. Users can use MOVE Network to own NFT IPs covering
entertainment, music, artwork and also eSports. The MOVE team collaborates
with different IP distribution partners for NFT issuance in Asia and North
About The H Collective
Founded in June 2017, The H Collective is a comprehensive and independent film
corporation with businesses including film and television production, film and
television financing, marketing and distribution as well as the operational
management for IPs, with original English language IPs as its core. It focuses
on films and televisions, recreational industry, and cultural industry.
About SMO Capital
SMO Capital is an Asia-based venture capital firm specializing in small- to
mid-cap crypto project launches. With experience of almost ten years in
blockchain technologies and partners across Asia, Europe and US, SMO Capital
takes an active role in building businesses. SMO's recent focus has been on
infrastructure, DeFi and NFT companies in Greater Bay Area and beyond.
About DragonRoark Venture
Established in March of 2006, DFJ DragonFund was the joint venture between the
internationally recognized venture capital firm Draper Fisher Jurvetson (DFJ)
and DragonVenture, which provided pioneer venture capital in China in the late
90's. Since its inception, DFJ DragonFund managed two US Dollar funds "DFJ
DragonFund I" & "DFJ DragonFund II" and one RMB fund. In 2014, the DFJ Global
Network rebranded as the Draper Venture Network. With the launch of its 3rd US
Dollar fund in 2016, DFJ DragonFund henceforward became known as DragonRoark.
DragonRoark is a sector agnostic early-stage fund. It looks for companies with
innovative technologies and business models with market appeal in Silicon
Valley and in China. Headquartered in Silicon Valley with management and
consulting offices in Shanghai, China, DragonRoark commands substantial
resources and capabilities developed over two decades of venture capital
About Soul Capital
Soul Capital is a family-owned private entrepreneurial company which focuses
on investing in innovative and emerging technologies and internet companies
with ingenious ideas. Its investment ranges from early-stage companies with
great potentials to later-stage companies which stand at a leading position in
their respective industries. Soul Capital's main investment regions include
the United States, Indonesia, India, Singapore, Japan and Hong Kong. Its
international connections grant Soul Capital access to high quality and
exclusive deals with great potential. Soul Capital believes that advances and
improvements in technology bring disruptive innovation and create the biggest
investment opportunities. Other than fundamentals, Soul Capital pursues growth
of capital by evaluating the investment target's team and values which are the
essence of every company. Picking the right business run by the right
management team is its core investment philosophy.
Join the MOVEment Now!
Twitter : https://twitter.com/MOVEMOVEnetwork
President & Co-Founder of MOVE Network
Email Address: marketing@MOVEnetwork.io
SOURCE: MOVE Network
View source version on accesswire.com:
View version on bloomberg.com: