[PRESS RELEASE – HANOI, VIETNAM, July 21, 2021]
Spores Network, a full-stack NFT-DeFi platform, is getting closer to yet another milestone with the launch of its upcoming “initial DEX offering” (IDO) on Cardstarter – the premier launchpad and incubator for projects on Cardano.
Community members and investors now have the chance to secure a spot on the whitelist for the IDO scheduled for Friday, July 21st at 8:00 AM PST/3 PM UTC.
The highly anticipated dex offering marks the latest milestone for Spores Network, which aims to become the first full-stack, blockchain-agnostic DeFi-powered NFT marketplace.
Spores Network has recently completed private funding round, having raised a total of $2.3 million. The private placement was participated by major pre-selected investors such as NGC Capital, and Maven Capital.
Spores Network believes that content is king and expects to launch a venture fund dedicated to NFT + DeFi projects, including blockchain game publishing, as it expands the reach of its ecosystem.
Duc Luu, Chairman at Spores said: “Spores Network is incredibly honored and excited to launch our IDO through Cardstarter. Spores aims to be a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture and we’re pumped to bring that vision to Cardano’s incredible community. Expect us to bring the hottest celebrities, animation/anime, digital fine art, blockchain games, and esports to Cardano’s ecosystem soon”.
First Full-Stack DeFi Platform Built on Cardano
Spores is equipped with features to facilitate and benefit all participants, including artwork and content creators, game developers, entertainment producers, clubs, collectors, celebrities, fans, etc.
Somewhere down the line, Spores envisions a platform that is cross-chain interoperable — allowing users to issue NFTs, auction, exchange the crypto assets and utilize DeFi products without barriers.
In this sense, the project takes the advantages of blockchain technology to authenticate NFTs, track their ownership logs and buy/sell history, as well as decentralize their trading procedures. These operations are perfectly done while complying with intellectual property and copyright licenses to protect the benefits of the ecosystem participants.
Spores Network has opted for an IDO fundraising to allow community members benefit from built-in liquidity pools and immediate trading, as well as save on lower costs for listing. And CardStarter auction platform is, in particular, perfectly positioned as the first project accelerator for projects built on the Cardano network.
An initial dex offering, commonly referred to as an IDO, is a fundraising event that is administered by a decentralized exchange (DEX). In contrast to initial coin offerings (ICOs) where the project team themselves collect the pool monies, an IDO model means that the fundraising will be conducted on an exchange’s launchpad platform.
CardStarter connects early adopters and supporters to projects and has a strong team that has successfully bought several initial dex offerings and proven itself among the Cardano ecosystem’s premier launchpads.
About Spores Network
Spores Network founders believe that crypto will lead to decentralization of ownership and frictionless redistribution of capital. Their mission is to create an NFT ecosystem that is creator-centric, community-driven, frictionless, and borderless. Spores Network chooses to be a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture. Spores co-founders include Duc Luu (Nasdaq IPOed serial entrepreneur ), Eric Hung Nguyen (former senior investment analyst at a top-10-worldwide hedge fund and blockchain angel investor), Paven Do (former blockchain & cryptonomics researcher at HK Applied Science & Tech. Research Institute), and a diverse team of advisors across blockchain and entertainment.