NFT Infrastructure Startup Gomu Raises $5 Million in Seed Funding

Quick take:

• Coinbase Ventures, Defiance Capital and Saison Capital participated in the seed round.
• Gomu’s two main products are built on the NFT APIs, which are already widely available to developers.
• The company’s founding team has led executive teams at Coinbase, CoinMarketCap, Chainlink, Millennium Management and Zendesk.

Gomu, an NFT infrastructure and liquidity enabler, has closed a $5 million seed round with participation from Coinbase Ventures, Defiance Capital, Saison Capital.

Several prominent angel investors including Carylyne Chan (former CEO of CoinMarketCap), Matthew Tan (Founder of Etherscan), Bobby Ong and TM Lee (Co-Founders of CoinGecko), Mike Dudas (GP at 6MV) and Benedict Chan (VP Engineering at Chainlink) were also in the round.

The Gomu team consists of executives from leading Web3 platforms. Co-founder and CEO Spencer Yang previously led product at Coinbase focusing on derivatives, DEX and Coinbase Wallet. He also served as VP of Growth, Revenue and Operations at CoinMarketCap, including driving the acquisition with Binance.

Jeremy Seow, Gomu’s co-founder and VP of Product, had led product at Chainlink and was previously VP of Product at CoinMarketCap. Other team members were engineering and product managers at other companies such as Millennium Management, Zendesk and CoinMarketCap.

The startup provides data, tools and products such as NFT API, NFT Hub and Collection.xyz for NFT communities, projects and developers to build and integrate native web3 applications and experiences for their users.

NFT Hub and Collection.xyz are Gomu’s two main products built on Gomu’s NFT APIs. The former is a white-labeled community hub and marketplace, while the latter is an NFT liquidity incentive protocol with LP tokens and corresponding permissionless reward vaults.

Collection.xyz offers any person with NFT and ETH tokens the ability to create a liquidity pool on NFT DEX Sudoswap and receive a tokenized representation of their ownership. NFT projects will be able to set the parameters they want to incentivize by creating a vault that attracts NFT holders to create liquidity pools and stake liquidity pool tokens against the vaults to earn rewards and incentives.

Capsule House, Loot, Sandbox, Otherdeed, Azuki, Memeland and Pudgy Penguins are some of the featured collections to create reward vaults to fund the first round of liquidity incentives for Collection.xyz’s launch.

“NFT holders and projects can easily motivate liquidity for their favorite NFT collections, adding an important building block to the NFTfi space,” said Spencer Yang, Co-Founder and CEO of Gomu, “The LP tokens of pools can also provided as collateral for other protocol interactions. Reward Vault is just the beginning, and we look forward to working with the community to build more amazing blocks.”

In addition, Gomu is partnering with Mutant Cartel, an independent community of Mutant Ape Yacht Club (MAYC) NFT holders to launch Mutant Hideout – the first community-owned hub for all MAYC holders. Hideout will provide a place for MAYC NFT holders to gather and discover content, share information and exchange NFT with each other.

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