Trace Network raises $1.6M for luxury and lifestyle NFT marketplace Bling

Trace Network Labs
Jun 16 · 3 min read

Trace Network commenced the launch of its TRACE token and nonfungible token marketplace, Bling, onboarding prominent strategic investors from the industry. Trace Network aims to redefine the product life cycle and traceability of luxury and lifestyle products using NFTs and decentralized finance powered by blockchain.

Trace Network is a unique business model that is packaged as an enterprise-grade, proof-of-stake, permissionless protocol for supply chain, data management, trade settlement and financing powered by DeFi and NFTs. It is this unique proposition that has attracted some of the best names in the business, which have not only provided the initial capital toward the build but will also add a huge value in terms of market penetration, outreach and overall growth of the business as a whole.

Trace Network’s major offerings include:

● A unique limited edition luxury goods NFT marketplace.

● A virtual business network acting as a data exchange to enable sustainability and traceability.

● Proof of business transactions from virtual business networks powering DeFi capabilities for enterprises.

Bling — The limited-edition luxury and lifestyle product NFT marketplace will be completely decentralized, representing immutable ownership and running wholly on a series of smart contracts. This means anyone can be the creator of an NFT and carry their NFT sales, auctions and distribution in a permissionless manner. “Bling” it on Trace Network.

Marquee investors for Trace Network’s Bling

Marquee investors include industry heavyweights, such as AU21 Capital, NGC Ventures, OKEx Blockdream Ventures, LD Capital, Spark Capital, Morningstar Ventures, Inclusion Capital, Lotus Capital, Spark Digital Capital, Moonrock Capital, Blocksync Ventures, 18.ventures, DAO Maker, Acheron Trading, EthDesign, Genblock Capital, Master Ventures, GBV Capital, Black Edge Capital and Moonwhale Ventures, as well as many other reputed angel investors, such as Sandeep Nailwal, chief operating officer and co-founder of Polygon.

Lokesh Rao and Sunil Arora, both well-known in enterprise technology, co-founded Trace Network with the vision to redefine the product life cycle and traceability for luxury and lifestyle products.

About Trace Network

Trace Network is an enterprise-grade decentralized finance protocol that harnesses the capabilities of composable smart contracts, permissionless financing options powered by DeFi and NFT-based unique merchandise identification solutions. This will unlock billions of dollars worth of business potential otherwise undermined due to poor merchandise inventory, ownership management, costlier trade financing and banking options, and perennial inefficiencies in per diem business transactions. Trace Network’s protocol will integrate the capabilities of NFT and DeFi into enterprises’ businesses alongside various business transactions that will be enabled on-chain.

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To learn more about TRACE and Trace Network, please go through our other articles on this publication.

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