Arca Finances Spaceport’s $3.6 Million Fundraising Drive

Spaceport, a web3 intellectual property protocol, raised $3.6 million in a pre-seed round headed by Arca, Decasonic, and Crit Ventures, the venture arm of game producer Com2us.

According to a release, Arca, Infinity Ventures Crypto, FBG Capital, and Republic Asia are among the investors who participated in the round.

Spaceport is intended to assist creators, companies, and agencies in monetizing their intellectual property.

Spaceport intends to employ blockchain technology to make this process more efficient and cost effective for producers. Its initial application, Spaceport Core, will allow creators to upload their works, transform the assets to be web3-compatible, and then present that IP library to brands in order to achieve licensing deals and contracts, with royalties going back to the creator via the application, according to Zhang – the CEO.

Spaceport has already secured numerous significant partners, which will be revealed in the coming months. The protocol will be launched on Ethereum first, but Zhang is also looking towards EVM compatible chains like Polygon.

According to the release, the proceeds from the raise will be utilized to acquire talent and develop new products.

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