Paragon Receives $10 Million Seed Round Financing from Lib Capital
Singapore, Singapore--(Newsfile Corp. - May 31, 2021) - Over the years, blockchain industry sees a remarkable development. New technologies are changing the global financing system. With the growing scale of encrypted data transactions, more and more institutes and users have accepted the encrypted assets. Traditional capital is also accelerating its entry into the blockchain field.
In May 2021, Paragon (PAR)-NFT Project receives $1,000 seed round financing to further develop NFT platform based on the integration of multiple blockchains. Lib Capital is the lead investor; the co-investors are Tsinghua Holdings, CrCapital, Genesis, Block VC, AiSwap, Rootscap and son on.
Before this, the team of PAR has started the Telegram community and released its plan on the official website, aiming to improve the liquidity of fragmented NFT and covering the NFT creation, transaction, auction, mortgage and so on. Binance Smart Chain will be launched first and then connected with Heco and Polkadot, forming the NFT cross-chain applications.
Compared with other projects, PAR has its own unique advantages. It focuses on the R&D of fragmentation protocols which separate the blockchain into several independent blocks processed by the nodes in the area, improving the trading capacity and speed. Owners can split NTFs into shards that can be connected to any DEX platform for liquidity mining.
As an early venture capital fund for blockchain established in 2018, Lib Capital is committed to DeFi and NFT investments and its funds include strategic investment and asset management. NFT, the new favorite of cryptocurrencies, has attracted the attention of many artists and investors around the world. Lip has seized the opportunity and set PAR as its key investment. At present, NFT is gaining favor in the blockchain field. Against this backdrop, it is an important step for Lip to participate in the early investment of practical projects and strategically deploy its investment.
After the seed round financing, Paragon's Market Place will be online which is based on BSC. Artists can upload their works on chains and join in airdropping, advancing the sound ecological development of this platform. We will pay close attention to the follow-up development of the project.
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