Spore Network is a full-stack NFT DeFi platform and is approaching another milestone with the upcoming launch of its upcoming “Initial DEX Product” (IDO) on Cardstarter, the leading launchpad and incubator for the Cardano project.
Investors Can Now Have the Opportunity to Secure a Spot on the IDO Whitelist
Community members and investors now have the opportunity to secure a spot on the IDO whitelist, which is scheduled for Friday, July 23rd at 3 p.m. UTC.
The highly anticipated Dex product marks the latest milestone for Spore Network, which aims to become the first full-stack, blockchain-agnostic DeFi-driven NFT marketplace.
Spore Network recently closed a private round of funding raising a total of $2.3 million. Significant, pre-selected investors such as Nanjing High Gear Capital and Maven Capital participated in this private placement.
Spores Network believes content is king and hopes to raise a venture fund for NFT + DeFi projects, including blockchain game releases, as it expands the coverage of its ecosystem.
Duc Luu, Chairman of Spores, said, “Spores Network is incredibly honoured and excited to launch our IDO through Cardstarter. Spores aims to be a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture and we’re pumped to bring that vision to Cardano’s incredible community. Expect us to bring the hottest celebrities, animation/anime, digital fine art, blockchain games and esports to Cardano’s ecosystem soon”.
The first full-stack DeFi platform based on Cardano
Spore is packed with features that are common to all participants including art and content creators, game developers, entertainment producers, clubs, collectors, celebrities, fans, etc.
Somewhere, Spore envisions a cross-chain interoperability platform that will allow users to issue NFTs, conduct auctions, exchange crypto assets, and use DeFi products without barriers.
With that in mind, the project uses blockchain technology to verify NFTs, keep track of its own log and transaction history, and decentralize its transaction procedures. These operations are perfectly completed in compliance with intellectual property licenses and copyrights to protect the interests of the participants in the ecosystem.
Spores Network selected IDO to raise funds so that community members could benefit from the built-in liquidity pool, instant transactions, and save on lower listing costs. The CardStarter auction platform is particularly well-positioned as the first project accelerator for projects that are based on the Cardano network.
The initial Dex issue, commonly known as IDO, was a fundraising activity managed by a decentralized exchange (DEX). In contrast to the Initial Coin Offering (ICO), in which the project team collects pool money themselves, the IDO model means that fundraising is carried out on the exchange’s launchpad platform.
CardStarter connects early adopters and supporters to the project and has a strong team that has successfully purchased several first Dex products and has proven itself in the most important startup platform of the Cardano ecosystem.