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Multi-Blockchain Platform Geeq Receives $25M Capital Commitment From Investment Group GEM
The financing differs from traditional funding rounds in that the flow of capital depends on how Geeq performs.
Updated May 11, 2023, 6:47 p.m. Published Aug 8, 2022, 12:00 p.m.
Multi-blockchain platform Geeq has received a $25 million capital commitment from alternative investment group Global Emerging Market.
- Geeq's products aim to address problems such as security and transaction costs to encourage mass adoption of blockchain technology. It says its platform is designed for any blockchain application, allowing enterprise and individual users to integrate fintech, game tech, non-fungible tokens (NFTs) and micropayments, among other uses.
- The platform is designed to ensure data reliability between organizations. It maintains fully permissioned audit trails so that stakeholders can be sure everyone is working with the same information.
- The capital commitment from GEM is designed to release the funds as performance milestones are met. It is reminiscent of the $200 million allocated to centralized-decentralized (CeDeFi) exchange Unizen, which was also a milestone-based and performance-related model.
- GEM's commitments therefore differ from traditional funding rounds in the way capital is injected into companies.
- With the crypto industry facing uncertain prospects in the short and medium terms, such capital commitments may become a more prevalent, less risky means of investing in digital asset firms.
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