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FARE Protocol - Seed
Overview
Funding Date
May 1, 2023
Financing amount
$6.2M
Valuation
--
Category
Subcategory
About FARE Protocol - Seed
FARE Protocol has raised $6.2 million in a seed round led by Goat Capital – the firm managed by Twitch founder Justin Kan – and C Squared Ventures. Other investors in the round included 6th Man Ventures, Republic Crypto, Arrington Capital, Eniac Ventures, Spark Digital Capital, Morningstar Ventures, Quantstamp and DWeb3, among others.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | -- | 7 | -- | ||
| Fund | United States of America | -- | 3 | -- | ||
| Fund | United States of America | 2019 | 73 | -- | ||
| Corporate | United States of America | 2016 | 52 | -- | ||
| Fund | United States of America | 2017 | 95 | [email protected] | ||
| Fund | United States of America | 2009 | 16 | -- | ||
| Fund | United States of America | 2017 | 81 | [email protected] | ||
| Fund | United Arab Emirates | 2020 | 127 | -- | ||
| Corporate | United States of America | 2017 | 24 | [email protected] | ||
| Fund | -- | 2018 | 50 | -- |
Company Profile / Project Introduction
The FARE ecosystem is built on probability smart contracts, which are triggered by transparent on-chain events based on probability variables. The first use case for the contracts is randomized minting and burning (or 'winning' and 'losing') of the FARE token. The system is designed so the probability of losing or burning a token is higher than minting or winning, similar to how a real-world casino operates. Instead of a centralized "house" getting the profits, the collected FARE tokens are distributed to the ecosystem.