Shards Protocol has protected $ 2 million in financing to promote Aura, the web3 reputation system that changes on-chain activity in reputation and rewards.
In a press release that is shared with crypto.news, Shards Protocol announced that it has collected $ 2 million in financing supported by Animoca brands, Kyber Ventures, Guild Guild Games and others. The capital will mainly finance the development and integration of their flagship product, aura, within the web3 -ecosystem.
Aura is a recognition and reputation layer that converts the activities on users’ chains into verifiable reputation and rewards. Users can show off their reputation scores and badges of their web3 activities directly on their X profiles. The more badges they mint, the more rewards they can unlock. The company is also preparing for a token launch and plans to expand the reach and functionality of Aura throughout the year.
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‘The company has more than 1 million users in all products on board and generated a trade volume of $ 1 million, but we soon realized that Web3 needed more“Said Stefano d’Ilva, CEO and co-founder of Shards, in the press release statement. “That is why we introduced aura flagship product, a recognition layer that turns your contributions to chains in reputation and rewards.”
Important investors also commented on development. Gabby Dizon, co-founder of Yield Guild Games, one of the backers, said:
“Aura by Shards is investigating ways to recognize what people do in chains and connect them with opportunities. It is always good to see that more projects build better ways for web3 communities to grow and organize.”
Earlier known as Shards.Tech, Shards Protocol began as an SDK layer focused on stimulating the retention of game Studios and in-game spending. It enabled players and members of the community to buy and trade fractional shares of game teams through a marketplace. Multiple games integrated this technology, saw the retention by more than 200% and generated more than $ 400,000 in trade volume during a private alpha phase in 2024.
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