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WOO Community Luggage Collection A Funding of $30 Million Amid Rising Crypto Tradition


Crypto area is increasing at a brisk tempo and extra crypto alternate platforms try to determine themselves out there early on. In a Collection A funding spherical, crypto alternate platform WOO Community has bagged $30 million (roughly Rs. 223 crore) from numerous traders, together with main Singapore-based funding agency Three Arrows Capital. A complete of fourteen different enterprise capital companies participated within the spherical. The crypto startup WOO claims to supply deep liquidity and zero-fee buying and selling to customers on its crypto alternate.

The event comes after the corporate’s every day buying and selling worth grew by $20 million (roughly Rs. 148 crore) in early 2020 to an all-time excessive of $2.6 billion (roughly Rs. 19,330 crore) in mid-September, as per CoinDesk.

WOO Community shared the information about efficiently closing its contemporary funding spherical on Twitter.

The crypto alternate plans on utilizing the funds to determine a analysis and growth facility in Warsaw, Poland.

In October, US-based non-fungible token (NFT) firm known as Sweet Digital secured $100 million (roughly Rs. 747 crore) in a Collection A funding spherical. NFTs are digital collectibles impressed by actual life objects together with video games, paintings, and songs amongst different issues.

Mojito, a tech-suite enabling the creation of NFT marketplaces additionally secured an funding of $20 million (roughly Rs. 150 crore) in a contemporary funding spherical lately.

The crypto market is witnessing a fast enlargement on a global degree. Earlier this week, the general valuation of the crypto market reached the $3 trillion (roughly Rs. 2,22,79,296 crore) mark, as per market analysis tracker, CoinGecko.

As per a report by Cryptimi, an estimated 504 cryptocurrency exchanges presently exist, out of which 259 are tracked on CoinMarketCap with others deliver early startups.


Considering cryptocurrency? We focus on all issues crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Devices 360 podcast. Orbital is offered on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
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Radhika Parashar is a senior correspondent for Devices 360. She has been reporting on tech and telecom for the final three years now and might be focussing on writing about all issues crypto. Moreover this, she is a significant sitcom nerd and sometimes replies in Chandler Bing and Michael Scott references. For ideas or queries you may attain out to her at RadhikaP@ndtv.com.
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