Animoca Brands Has Led A $11M Seed Funding For Gusto Collective

Animoca Brands Has Led A $11M Seed Funding For Gusto Collective

Gusto Collective, a Hong Kong-based BrandTech holding company, raised $11M in Seed Plus funding. The round was led by Animoca Brands and Gaw Capital, with participation from BlackPine, YCI Limited, and ClearVue Partners.

The company intends to use the funds for growth in geographic expansion into other parts of Asia; Web3 services and products, and recurring-revenue product development.

Led by CEO Aaron Lau, Gusto Collective is a BrandTech holding company bringing the best businesses in technology and branding together to drive value and growth for brands through immersive and engaging customer experiences that are operating within the spheres of AR, the metaverse and NFTs.

The company has partnered with Hong Kong’s largest wireless operator, CSL, to create 5G AR experiences through an AR application it created; partnered with Phillips Auctioneers on the world’s first real-time generative data art, based on auction data; and created AR experiences for Pixar Fest in the Harbour City mall in 2021.

With the completion of this round, the company has raised US$23 million in cumulative external funding since launching in 2020.  

Recently,  Animoca Brands has licensed the Hockenheimring racetrack in Baden-Württemberg for use in its REVV Motorsport ecosystem of play-to-earn racing games.

Animoca Brands will manufacture and sell non-fungible tokens (NFTs) that represent partial ownership of the virtual Hockenheimring racetrack, according to a press statement.

Through entry fees, sponsorships, and events, NFT holders can gain a share of the virtual racetrack’s revenue.

REVV Racing, Formula E: High Voltage, and Torque Drift 2 are all part of the REVV Motorsport ecosystem, which is fueled by the REVV token.

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