Guesser, a user-friendly interface constructed atop the Augur (REP) decentralized oracle and prediction market protocol, has secured $1.1 million in seed funding from a number of crypto-friendly enterprise capital funds.
For Guesser, whose staff works out of the Spanish capital of Madrid, the injection of capital gives them with “the chance to construct a prime staff of extremely pushed individuals, outline market distribution, in addition to act as a excessive liquidity supplier in some markets,” co-founder and CEO José Garay acknowledged on Thursday in Guesser’s weblog put up.
Guesser additionally used the funding announcement to disclose they’re growing their providing from one to 4 ‘Wager of the Week’ classes: crypto, finance, politics, and basic information. All 4 will take pleasure in “further liquidity from the corporate,” Garay added.
Whereas Augur may be too sophisticated and time consuming for the common person, we’re constructing a user-friendly interface that abstracts away the complexity of cryptocurrencies and makes investing in prediction markets as participating and frictionless as investing in cash or shares.” – Garay
As introduced in Guesser’s weblog put up on Thursday, there have been a complete of three funds concerned within the $1.1 million seed spherical. Co-leading the increase was Model One – which has beforehand invested within the likes of Coinbase, Blockstack (STX), Celo, CryptoKitties, and Lolli – and Compound, a New York-based, technology-focused fund that has beforehand backed many initiatives native to the crypto business together with Casa, Livepeer (LPT), CryptoKitties, Mattereum, Orchid, and Kadena.
Publishing a weblog put up to elaborate on why Model One invested in Guesser, founding companion Boris Wertz identified the very fact “the Guesser staff is predicated in Madrid and European regulators are far more welcoming to crypto start-ups and on-line betting exercise;” a key problem his enterprise capital agency recognized upon studying about Augur halfway via final 12 months.
Guesser’s different seed investor was Enhance VC, the San Mateo-based accelerator co-founded and managed by Adam Draper – son of famend enterprise capitalist, Tim Draper. Acknowledged as the primary fund to help the Bitcoin ecosystem, Enhance VC lately kicked off Tribe 12, the newest of its three-month-long accelerator applications of which Guesser is part of.
Including a never-before-seen ingredient to Guesser’s $1.1 million seed spherical, the funding from Enhance VC was actually denominated in Dai (DAI), the U.S. dollar-pegged stablecoin inherent to the Ethereum-based Maker (MKR) good contract platform.
