FungyProof Raises $1M Pre-Seed Funding
CR3 Labs, the Boulder, CO-based creator of FungyProof, a provider of an NFT quality assessment platform, raised $1M in Pre-Seed funding.
Backers included Cadenza Ventures, Hypersphere Ventures, ZMT Capital, Red Beard Ventures, HanDAO, Branson Bollinger, and Daniel Hwang.
The company intends to use the funds to hire additional talent, expand its product offering with a crowd-sourced token review system, support for additional blockchains, and the release of an API.
FungyProof provides an NFT quality assessment platform, which simplifies the discovery process with an at-a-glance grade covering essential aspects of NFT collections. The grade combines crowd-sourced reviews with technical data analysis to assess the credibility of the project’s team and community as well as token attributes like permanence, tokenomics, energy efficiency, and market integrity.