Oxalus, The NFT Social Commerce Platform Raises $1,1M From IDGCVB & Kyber Ventures
News provided by: 
Oxalus team
VIETNAM – 31 May 2023 – Oxalus has raised $1,1M in the seed round from investors including IDG Capital Vietnam Blockchain and Kyber Ventures. The investment signing ceremony took place on May 25, 2023 in Hanoi.
The company will use the proceeds for product development and market expansion as it aims to reach 24M unique users by the end of 2024.
Mr. David Tran, Director (General Partner) of IDGCVB, said that they prioritize investing in startups at the early stage; Even the startup doesn’t own the finished product, only the MVP (Minimum Viable Product – trial product). The Capital will support startups in terms of business development strategy, legal, and corporate governance advice and finding the next funding opportunities.
Founded in 2022 by Hieu Nguyen Dang, Oxalus gathers young but infinitely creative talents in the technology industry generally and blockchain particularly. Together they are building an NFT social commerce platform, the frictionless social media for a generation of Web3 users which is making an endless effort to become a major force bringing Internet users to Web3. When accessing to Oxalus platform, everyone can make friends, interact, chat with other people, freely create content & follow upcoming NFT projects.
Besides, the platform also offers advanced features such as an NFT aggregator, where users can buy bulk collections from various marketplaces at the lowest price, saving up to 88,8% transaction fee for users. Additionally, the insightful NFT analytics tool shows all crucial metrics of wallet addresses, NFT collections, unique market insights, and more.
It is such an explosive integration of social media and the NFT commerce marketplace. “The design is significantly cool and Oxalus has solved the users’ pain points that just a few NFT platforms can do now.” – quoted comment about Oxalus of a famous investor on Twitter.
“Our startup selection criteria are to see if the startup is specialized in blockchain technology, the team can capture the essence of this technology to create a breakthrough in the market. In the world, blockchain technology is still at the development stage, not fully mature like technology in artificial intelligence (AI), e-commerce, or other industries, so the founding team must be people with an outstanding grasp of blockchain.”, Mr. David Tran – the General Partner of IDGCVB emphasized.
About Oxalus:
Oxalus was founded in 2022, we’re connecting NFT creators and collectors in one hub.
Oxalus is an NFT social commerce platform that allows users to connect, interact with each other online, and buy NFT collections without leaving the app, or website. This advanced social platform focused on NFT opens doors for users to communicate with other traders and collectors, stay updated on the market news, and upcoming NFT events. Everyone directly comments, likes, follows, shares on the platform, expresses themselves through creative content online, manages the portfolio, and more.
Especially combined with marketplace elements that are NFT Aggregator – a tool to help pro-traders buy NFT from various marketplaces at the lowest price and save up to 88.8% gas fee; Analytics tools allow users to discover and visualize big data from blockchain – track every activity of wallets & collections,… which helps them for profitable investments.
For more information, please contact:
Kelsey Nguyen, Business Development Director, at kelsey@oxalus.io
Hanna Le, Editorial Marketing, at hanna@oxalus.io
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