Cyan, the Buy Now, Pay Later (BNPL) service for the metaverse, announced today that it has raised US$100,000 in a pre-seed round of funding from Animoca Brands.
Cyan’s Buy Now, Pay Later service allows consumers to make purchases and pay for them in the future, providing users with the ability to finance purchases, re-collateralize their NFTs, and offer capital providers a way to stake into Vaults to earn a yield on financing metaverse assets.
Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 150 investments in NFT-related companies and decentralized projects that are contributing to building the open metaverse.
The new funding announced today will be used to aid Cyan in the launch of its BNPL service protocol.
Mikio Crosby, Founder of Cyan, commented: “We are extremely excited to have Animoca Brands on board and look forward to building an accessible metaverse for all.”
Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “The service offering proposed by Cyan is particularly important for the open metaverse because it will help to ensure participation and inclusion across a wider range of financial backgrounds.”
About Cyan
Cyan, the Buy Now, Pay Later service for the metaverse, is the first protocol to provide financing options for purchasing NFTs. The protocol also provides re-collateralized loans on NFTs and Vaults for capital providers to earn a yield on financing these assets. To start, users can purchase Blue Chip NFTs over a three-month period in four equal installments, which will later expand into longer terms, more categories including digital land, and other projects within the metaverse. For more information please visit https://www.usecyan.com/
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