Kyro raises $10M for next-gen crypto marketplace platform

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Kyro Digital has raised 10 million for its software-a-service platform for the crypto marketplace. The funding came from large blockchain companies and crypto venture funds.

Investors include Avalanche by its Blizzard Fund, Polygon, Rally and Tezos, as well as about a dozen others.

Kyro is working with multiple blockchains, marketplaces and individuals to make it easier to mint, launch and scale nonfungible tokens (NFT) storefront. NFTs, which use the blockchain’s transparent and secure digital ledgers, have been a hot topic – popular among crypto enthusiasts and reprimanded by critics who believe they are scammers.

Kyro’s long-term goal is to build long-lasting on-chain value from new Genesis blocks and secondary sales of all crypto assets.

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It will support a handful of blockchains installed at launch, including Avalanche, Etherium, Flow, Polygon, Rally and Tezos. Kyro also offers ten digital and real-world crossover applications, third-party applications and the first Web 3 builder.

“Rally enables creators to navigate the complex web 3 landscape, both with their fans and in the tech infrastructure that ultimately plugs them into the wider web 3 ecosystem,” said Stephanie Pereira of Rally. “Investing in Cairo will help creators with both of these aspects of their online communities: enabling a branded standalone interface at the front end, and the possibility of cross-chain interoperability at the core of their offer.”

The platform gives creators launching NFTs or other crypto assets through Kyro’s partners the ability to create their own marketplace. NFT, token or coin deployment includes useful real-world and digital utilities, including trades, prizes, events, donations, virtual goods and more.

All that can now be managed with the Kyro platform. Kyro is led by Samir Arora, who started working on applications distributed at Apple and was the former CEO of NetObjects, who launched the first website builder for Web 1.0.

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