Web3 startup Formless raises $2.2M from a16z

Formlessa start-up developing a protocol called Share and enabling decentralize the property rights management and the revenue sharinghas just completed a 2.2 million round of financing.

Formless announced on Tuesday that it had raised $2.2 million in a funding round that included participation from the Crypto Startup School of American VC Andresseen Horowitz aka a16z.

Crypto venture capital firm MH Ventures and several angel investors, including Polygon’s Sandeep Nailwal and Ankr’s Ryan Fang, also backed the fundraising.

Formless develops a digital multimedia content distribution engine for Web3 called Share Protocol and presented as a decentralized network infrastructure dedicated to property rights management and revenue sharing.

The platform will enable creators, developers and businesses to access a “common property network” while benefiting from “the innovation of decentralized digital rights management”. They will earn revenue through “peer-to-peer microtransactions” on the blockchain.

This round of pre-seed funding is a testament to our team, our vision and the transformative potential of the SHARE protocol,” trumpeted Brandon Thorpe, founder of Formless, in a statement.

The fresh capital will be used by Formless to accelerate the development of its protocol.

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This autumn, Trips, another blockchain startup that enables creators to protect and monetize their intellectual property, raised $2.5 million from Shima Capital and the Avalanche Foundation.

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