Digital collectables marketplace, Ayoken has raised $1.4 million in pre-seed funding to sign a number of exclusive deals with artists and partnerships with telcos as well as expand its team and presence in different countries.
As a marketplace connecting NFT creators to global audiences, Ayoken is set to enable users to attain accelerated revenue streams through its different offerings.
The funds were raised from a number of sources including Founders Factory Africa, Texas-based Kon Ventures, Europe-based venture capital collective Crypto League, Ghana-based R9C Ventures and Maximus Ventures.
Ayoken has come up with Ayokenlabs as the startup’s platform designed to connect fans and artists. It will include digital collectables from top musicians, sports brands, and influencers around the world.
Fans will be able to purchase tokens such as behind-the-scenes videos and album art through the NFT marketplace. Other benefits include access to unreleased music and exclusive live events by the creatives.
NFT holders will also get discounts for future events and VIP passes that will enable fans to livestream music by their favourite artists before it arrives on Spotify, YouTube or Apple Music.
Ayoken intends to release NFTs of some major African artists, as well as others from around the world, in the coming months. The startup has already collaborated with Ghanaian afrobeat artist KiDi (Dennis Nana Dwamena) who is set for his first NFT release on June 1st.
The platform will allow crypto and card payments but negotiations for partnerships with telecom providers are ongoing in order to add mobile money as a payment option. Ayoken hopes to make it easier for people in African emerging markets to trade with ease.
As an added incentive, users will get token rewards (AYO) when they buy the NFTs or refer people and these can be redeemed later for an NFT.
The startup confirms that distribution partners such as YouTubers, influencers, newsletters, crypto exchanges and Telcos are promoting NFT drops to help creators reach audiences far beyond their fanbases.
With just the click of a button, creative celebrities can have instant access to millions of people around the world without having to rely on their own social media followers to drive transactions.
Distributors receive revenue sharing based on all transactions generated from social media promotions.
AyokenLabs aims to catalyse the mainstream adoption of crypto in emerging markets with a vision to onboard 10 million new crypto users & digital collectable owners.