Friday, May 24, 2024

Aiming to raise a total of 220 million yen
Chichemy Co., Ltd., which operates Japan’s largest NFT ticket platform, announced last week that it had completed raising 140 million yen as the first stage of its seed round. The company plans to use this funding to improve its services and strengthen collaboration with artists, event organizers, and others. *Investigated by the company (December 2023)
Z Venture Capital, LINE Yahoo’s venture capital firm, served as the lead investor in this round. Other investors include East Ventures, which invests in Southeast Asia’s digital ecosystem, and three private investors.
Chichemy is planning to raise the second stage of the seed round, aiming to raise a total of 220 million yen.
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What is an NFT ticket?
“NFT Ticket” is an innovative ticket format suitable for the web3 era that utilizes NFT technology. These are difficult to tamper with and can be used as event tickets or product vouchers to control circulation and add value.
In addition, it will be easier to manage the secondary market, including determining whether secondary distribution is possible, setting sales limits, returning profits to event organizers, and cracking down on accounts that engage in illegal reselling. Through this, we aim to create a healthy market in the entertainment industry.
Chichemy will use this funding as an opportunity to further develop and operate the sales platform for NFT tickets and NFT vouchers, strengthen relationships with artists and event organizers, and expand marketing and PR activities. The company aims to bring new value to the entertainment industry by popularizing NFT tickets.

What is NFT?
Abbreviation for “Non-Fungible Token”, a digital token that is non-fungible and has unique value. By managing and transacting on the blockchain, information such as the creator, owner, transaction history, etc. of digital content is saved. By assigning a unique ID, it is proven that it is unique.
Virtual currency glossary

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The post Chichemy, which works on “NFT tickets”, raises 140 million yen in funding, led by LINE Yahoo’s Z Venture Capital appeared first on Our Bitcoin News .

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