Web3 solution AIKON announced on September 28, 2022, that it has closed a $10 million Series A equity financing round. The company’s primary goal is to accelerate blockchain technology adoption.
Digital asset-focused investment firm Morgan Creek Digital led the fundraise, with Avalanche Foundation’s Blizzard Fund as strategic investor and partner. Along with the fundraise, AIKON also welcomed Mark Yusko and W. Scott Stornetta (Morgan Creek Digital Managing Partner and Venture Partner respectively) as new board members.
“We are excited to support AIKON not only because they’ve built real-world blockchain solutions that have the potential to onboard millions of users onto blockchains, but also because they built a unique blockchain and crypto platform that put people first in terms of the ease of use,” Stornetta stated.
Other companies that joined the funding round include Up2 Opportunity Fund, Hestia Investments, and Yugen Partners. They are joined by Mighty Capital, Alpha Edison, and Think+ Ventures. The investors also purchased certain amounts of the platform’s native token $ORE. The participants can stake the token in AIKON’s Open Rights Exchange (ORE) Network.
AIKON is also adding compatibility for the Avalanche ecosystem. This will open up AIKON and ORE Network to over 16,000 developers and more than 500 decentralized applications (dApps) on Avalanche.
“AIKON helps make blockchain accessible for the 99% of Internet users who do not currently use blockchain apps. We are excited to support Marc and his team’s ambition to streamline access to Web3 via the Avalanche ecosystem,” Blizzard Fund investor Joshua Hecht stated.
AIKON is a Web3 solution that specializes in making blockchain and crypto less complex for the ordinary user. The company has created a suite of products on the ORE Network. Businesses may avail AIKON’s services to provide a smooth cross-chain (compatible with various blockchains such as Ethereum and Binance Smart Chain) experience for customers in the space.
AIKON’s “multi-chain authentication and wallet creation solution,” known as ORE ID is utilized in 12 countries. Enterprises that are using the ID include dAPPs such as AllianceBlock, NFT Battle Miners, and EarnFi, among others. Since its inception in 2017, AIKON has created over 200,000 multi-chain wallets.
“In the last five years, we have built infrastructure solutions designed to last for decades to come and we are thrilled to have the funding from industry leaders to continue our mission,” AIKON Founder and CEO Marc Blinder said.
About Blizzard Fund
Managed by Ava Labs, Blizzard is a $200 million fund dedicated to accelerating growth and nurturing innovation across the Avalanche ecosystem. Avalanche Foundation, Dragonfly Capital, Polychain Capital, and Republic Capital, among others, have contributed to the fund.
Since its formation, Blizzard Fund has invested in various projects on the blockchain ranging from Decentralized Exchanges to Non-Fungible Token (NFT) games. Web3 entities that the fund has supported include Dexalot, Humanode, MetaDerby, and TimeShuffle, to name a few.
About Morgan Creek Digital
Morgan Creek Digital (MCD) is a hedge fund that Mark Yusko, Jason Williams and Anthony Pompliano founded in 2018. The firm focuses on artificial intelligence (AI), blockchain technology and digital assets. Investment management firm Morgan Creek Capital is MCD’s main backer.
MCD has been actively supporting blockchain entities since its formation. Aside from AIKON, other Web3-based companies that Morgan Creek Digital has supported include Avanti, BlockFi, Gemini, Messari, and Zap Solutions, among others.