GitPOAP, a protocol that enables users to track contributions to the software development platform GitHub on-chain, has raised $4 million, according to the business. The round was co-led by Inflection.xyz and Libertus Capital. The valuation was kept confidential.
Along with angel investors including former Coinbase CTO Balaji Srinivasan, Avalanche VC, Protocol Labs, and Proof of Attendance Protocol (POAP) itself, the round was also supported by Avalanche VC and Protocol Labs.
Built upon POAP, a piece of software that generates a particular kind of NFT that indicates attendance at an event or experience, GitPOAP works by awarding POAP badges based on non-fungible tokens (NFTs) to signify significant contributions to GitHub projects. Colfax Selby, the founder, claims that this has encouraged development on underutilized projects.
Selby, a former head of the engineering team at Bloomberg, and CTO Jay Puntham-Baker, a former engineer at Vimeo, formed the business in January 2022.
According to Patricio Palladino of the Nomic Foundation, a non-profit devoted to the Ethereum development platform, there have been “more substantial contributions” to its developer tool Hardhat since since GitPOAPs were released.
The startup also opened up onboarding to any open source project as of right now in addition to announcing the financing. It was initially introduced in April of this year, but it was just for specific projects.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…
UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
Willemstad, Curaçao, 4th November 2024, Chainwire
This website uses cookies.