Blockchain Startup Ekta collects US$60M from Global Emerging Markets

news . 23 Jun 2022
Blockchain startup Ekta

Heaptalk, Jakarta — Ekta, a Bali-based blockchain startup, has obtained a US$60 million fund from a Global Emerging Markets (GEM) – the US alternative investment firm. This blockchain company will utilize the fresh capital to improve its ecosystem, including its NFT marketplace, blockchain-based games, and a hybrid crypto exchange platform.

In response to this latest fund, the Founder and CEO of Ekta, Berwin Tanco delivered a statement, “The company also plans to hire more skilled developers, build its marketing team and augment the liquidity in its market and a hybrid crypto exchange”.

The Bali-based startup, recently, has four projects, namely NFT marketplace, Ekta Island, Ekta portal, and Meta Trees blockchain game, currently in development. In its execution, the NFT marketplace will be launched in three weeks. Also, the company aims to launch its hybrid exchange in the third quartal of this year.

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Tanco explained that the Ekta portal is the initial layer of blockchain that allows people to mint NFT. Ekta’s team will send a physical node to give Ekta’s layer-one token to users. This Ekta’s Founder appraised this portal as the most exciting project. The portal is designed with a mini node for consumers without prior experience in operating a node.

Through this new capital, the company will also grow Ekta Island, a blockchain-based physical space that offers fractional investment opportunities for small investors. The island is located 20 minutes from Bali. The company will grant numerous facilities, covering villas, beach clubs, retail stores, and blockchain pods to co-living and co-working.

“We will have the NFT print at the end of this year for a membership and a fractional NFT print for the villa ownership of US$200. A fractional investment is good for smaller investors to participate in investing for real estate if they don’t have a stable financial,” uttered Tanco.

The investment from GEM came when token prices plummeted amid work termination cases. The company appreciated this contribution, realizing that blockchain technology must tie back to real-world assets to evolve. Numerous support for the blockchain technology companies has also been noticed in Indonesia throughout this year, with a strong optimism in the alternative investments.

These supports are indicated by the existence of multiple new exchanges launched in Indonesia since the cryptocurrency Binance announced a joint venture with a consortium led by MDI Ventures. Other investments have also come, including the launch of US$100 million from Cydonia Capital and US$113 million of Series B investment for Indonesia’s crypto wallets and Pintu platform led by Hedosophia. (SFM)