Blockchain Startup Contribution Labs Raises $3M through Equity Sale

Contribution Labs, a Web3-focused startup, has raised $3 Million through an equity sale.

Alchemy-backed Contribution Labs, a California-based technology firm in stealth mode is Alchemy-backed Contribution Labs. Catherine Chang, an ex-product manager at software firm Atlassian, and Kei Yashikoshi who was an engineer at Microsoft’s Azure blockchain, founded the company in January 2022.

Two investors have contributed $2,425,000 to Contribution Labs since Aug 15, according a filing with U.S Securities and Exchange Commission.

This was a different type of financing than traditional methods. Investors paid cash now in exchange for future equity.

Elad Gil, an entrepreneur who worked at Google and Twitter, is listed on the official website as a major investor. Alchemy, the Web3 infrastructure giant, has venture capital listed as well. Mint Kudos is found in Alchemy’s investing section.

However, the amount and time of the transaction were not disclosed.

Alchemy is The blockchain platform developer platform is a leader in its field.

Kudos are also built by the company, which is a token platformAsed on the Polygon Blockchain For appreciating the work of others and for living on the blockchain, a unique NFT generated through unique peer-verified, non-transferable token (NTT), Reward contributions

NTT token standard defines a collection of APIs that allow the identification of statements (called badges), attributed to a common public key. This allows different smart contracts and dapps to use different APIs to filter users and provide different badges or experiences to users.

Alchemy recently announced that it has acquired ChainShot, which is a platform for crypto education, to complement its extensive portfolio of crypto products.

In the near term, Kudos tokens could be connected to other blockchains like the Ethereum mainnet.

Image source: Shutterstock



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