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While the much-dreaded crypto winter is still biting hard, Book.io, a Cardano-based project, is landing top investors in the venture capital world as its partner. According to a recent revelation made by the start-up, billionaire investor Mark Cuban is notably one of its investors.
As revealed on the @badcryptopod earlier, @mcuban is an early investor.
— Book.io (@book_io) April 12, 2023
Grateful for all the advice and connections he's given us along the way.
According to the start-up, which brands itself as a multi-chain outfit, Mark Cuban has not just invested money into the outfit but has also provided invaluable advice and helped the firm generate connections as well. Book.io is committed to perpetually making books and media in different forms live on-chain.
The books are minted as non-fungible tokens (NFTs) on different chains, but with most titles resident on Cardano, according to a view of its book minting page. The start-up was co-founded by Joshua Stone and Ben Illian, and since its inception, the start-up has charted a growth path that has attracted other investors like the Ingram Content Group.
Tomiwabold OlajideWithin the first few months of launch, Book.io generated over $250,000 in net sales revenue and continues to generate daily royalties from secondary market sales. Presenting a vibrant business model with globally acceptable fundamentals, the platform continues to gain traction to date.
Diversifying innovations on Cardano
In the race to be the leading Layer 1 smart contract hub, Cardano is witnessing an influx of highly innovative Web3.0 applications calling it home. Besides Book.io, which is benefiting from the scalable nature of the Cardano protocol, Cardano has also recorded some high-profile product launches thus far this year.
The DJED stablecoin was one of its grand projects thus far this year, as COTI pushes to expand stablecoin liquidity within the protocol's ecosystem. In the weeks and months to come, Cardano developers are planning to float Hydra, the most advanced scaling tool on Cardano, which is designed to help push the blockchain protocol ahead of its biggest rivals.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team