Smart Token Labs Raises $6M via SAFT for TokenScript
Smart Token Labs, a Web3 open source software development business, raises a $6M via SAFT financing for its TokenScript project.
TokenScript, Smart Token Labs’ flagship project, raises $6M via SAFT to onboard brands to Web3.
Investors and Leading Projects
Mr. Liang Xinjun, Co-Founder of Fosun International and one of Asia’s most notable investors, oversaw the fundraising.
HashGlobal, Bodl, Fenbushi Capital, SNZ Capital, UOB Ventures, Signum Capital, and MH Ventures are among the other investors, as is individual investor Mr. Zhang Fan, a Co-Founder of Sequoia China.
Smart Token Labs will utilize the funds to further develop TokenScript, a programmable smart token interface that accelerates use cases across Web2 and Web3.
TokenScript Overview
TokenScript will establish a new standard for token composability in a Web3 future in which tokens are as common as web pages and tokens become main objects of ownership, identity, and interaction.
A new standard for token composability
Tokens today are limited by a basic contract interface
When dApps are used as the token interface, token utility is limited. Transaction and integration logic locked in the dApp layer brings the same composability, security and availability issues that existed in Web2.
TokenScript introduces a smart token interface.
Token knowledge and smart contract logic in a portable interface dramatically increases token utility. This brings context, security, interoperability and composability to tokens – not dApps.
Smart token interface delivers composability.
With unlimited logic and endless composability, Smart Tokens will deliver the promise of Web3. A fully-integrated web. A truly frictionless market.
By, and for, users and developers.
Management Quote
“We’re thrilled to see TokenScript get backing from some of the most important investors in the sector,” said Victor Zhang, Co-Founder & CEO of Smart Token Labs.
“Over the last year, we’ve achieved a lot of industry traction with our sophisticated token gating solution BrandConnector.” We’ll be announcing huge agreements with renowned companies in Brand, Loyalty, and CRM in the near future.”
Loyalty and CRM, according to Smart Token Labs, will be important use cases that connect companies to Web3. BrandConnector, powered by TokenScript, is a sophisticated token gating solution that allows websites to respond to visitors according on the tokens in their digital wallets. BrandConnector can connect to any loyalty or rewards program and interact with any token, NFT, or derivative.
The platform is being incorporated into Web2 and Web3 platforms like as Shopify and Galaxy.
And a number of platform agreements in sports and loyalty are in the works. TokenScript’s early uses include NFTs ticketing, AutographNFT, and several tokenization initiatives in automotive and IOT. Furthermore, it is a key component of the world’s largest ethereum developer event, DevCon VI. Where TokenScript and BrandConnector are utilize for ticket attestation and Permissionless Perks.
Mr. Liang Xinjun stated, “TokenScript has huge promise as a programmable smart token interface, an open source middleware that can connect Web2 and Web3.” “We are really encouraged by the team’s progress.”
TokenScript’s $200M valuation is a huge increase from a July 2021 estimate of $50M when Smart Token Labs secured a first $6M via SAFT with major investors like Mark Cuban, Crypto.com, and others.
About Smart Token Labs
Smart Token Labs is creating a new standard for a tokenized future. Since 2017, it has been building two core bridges to this future. AlphaWallet, an open source mobile NFT wallet, and TokenScript, a new framework for token composability and interoperability. BrandConnector is an advanced token gating solution based on the open source TokenScript framework.
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