Main navigation

Cardano-Based NFT Project Spores Raises $2.3 Million: Details

Fri, 07/16/2021 - 13:00
article image
Vladislav Sopov
Spores leverages Cardano (ADA) instruments to address NFT- and DeFi-oriented use cases
Cardano-Based NFT Project Spores Raises $2.3 Million: Details
Cover image via
Read U.TODAY on
Google News

Spores Network is going to reshape the segment of non-fungible tokens and decentralized financial protocols with Cardano (ADA) smart contract instruments.

Spores Network raises $2.3 million from VC veterans

According to the press release shared with U.Today, Spores Network, a one-stop ecosystem for decentralized applications focused on Asian markets, has concluded its funding round.

Spores Network raises $2.3 mln
Image via Spores Network

The total sum of funds raised is $2.3 million. The cohort of Spores Network investors includes top-notch venture capitalists such as NGC, SVC, ExNetwork, SL2, Twin Apex, Focus Labs, Maven Capital, OIG and Vivian Capital.

Spores will be among the first NFT- and DeFi ecosystems to harness the functionality of the Cardano (ADA) blockchain. Its upcoming smart contract tools will power the modules of an "out-of-the-box" platform by Spore Network.

Duc Luu, executive chairman of Spores Network, is excited about the results of the latest fundraising round for his team:

We at Spores Network are incredibly excited to launch our vision of NFTs and De-Fi with the support of world-class crypto VCs and KOLs who see a future that is frictionless, borderless, creator-centric, and community-driven to create, exchange, and communicate our physical and digital life's work...Our marketplace will bring to market creative verticals such as digital art, gaming, animation, celebrity, and esports, providing creators in those verticals a share of revenue and voice.

Building leading NFT marketplace for Asia

Launched by IT veterans Duc and Eric Hung Nguyen, Spores Network is focused on building the number one DeFi and NFT product for Asian markets.

Cross-chain interoperability and a platform-agnostic nature are promoted as two killing features of Spores Network.

Roger Lim, founding partner of NGC, stresses that the approach of the Spores Network team to the progress of the NFT segment is revolutionary:

Eric and Duc, with the combination of world-class hedge funding trading and business building skills and experience, are exemplary of our investment belief in founders first and markets second. Spores Network is building a full NFT and De-Fi ecosystem, beginning with an NFT marketplace to power value creation by focusing on depth and breadth of vertical expertise.

Starting from July 23, 2021, registration for Spores Network's initial DEX offering will commence on Cardstarters.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)