Singapore-based Mighty Jaxx, a blockchain-powered online platform for designer toys and collectibles, has bagged US$10 million (S$13.57 million) in a new round of funding led by Tencent, says a Vulcan Post report.
Korea Investment Partners and KB Investment also joined the round, which brings Mighty Jaxx’s total funding raised to date to US$14.8 million.
The new round comes barely four months after it secured US$3.2 million MightyVerse, its platform for tech-enabled figures, led by KB Financial Group with participation from SGInnovate and GC VR Gaming Tracker Fund.
MightyVerse (incubated at Ubisoft) collectibles are able to store information and digital assets, gamifying the collecting experience.
In 2019, Mighty Jaxx raised US$1.6 million in pre-Series A, led by Eight Mercatus.
Founded in 2012 by CEO Jackson Aw, Mighty Jaxx is an urban culture company that designs and manufactures collectibles and lifestyle products in partnership with global talents and brands such as Warner Brothers, DC Comics, Looney Tunes, Sesame Street, and Casio G-Shock. It is building an integrated platform to empower future pop-culture brands with the end-to-end supply chain of collectibles, including artist development and incubation, proprietary IP operation, and providing global consumer access with new retail.
The company claims so far it has shipped millions of products to over 60 countries with diverse offerings in collectibles, gaming, lifestyle, and fashion. In 2021 alone, it shipped approximately 8 million tech-enabled collectibles.
In March, Mighty Jaxx launched Nubbies: Sesame Street, a hyper-casual game title, in association with the new collectible series of the same name.
Mighty Jaxx also recently entered the non-fungible tokens (NFTs) space. NFTs are unique cryptographic tokens that exist on the Ethereum blockchain that cannot be replicated.
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Image Credit: Mighty Jaxx
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