FinTechFunding

Stakes: Raises $5.3M in Seed Funding

Stakes Raises $5.3M in Seed Funding

  • Stakes, a NYC-based social wagering platform offering a new web3 experience for sports fans,raised $5.3m in seed funding
  • Backers included Digital Currency Group, FBG Capital, CMS Holdings, LD Capital, Cadenza Ventures, Matrixport Ventures, and Sterling Select Group
  • Sam Li, former Vice President at the National Basketball Association (NBA), joined as a strategic investor and advisor
  • The company intends to use the funds to expand its team and grow its user base
  • The company is a social sports wagering platform that allows users to earn NFTs that are digital bragging rights on the blockchain
  • The company has already minted over 8,000 “proof-of-flex” NFTs to over 2,500 users as a reward for sports predictions
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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