Los Angeles, 3 August 2022 In preparation for its imminent NFT release, Based- a communication platform based on NFTs, today revealed it had raised USD 3.5M in pre-Seed funding. 

Progression Fund, a consumer fund focused on generational transitions, took the lead in the round. Additional investors include SolBigBrain, Collab+Currency, Palm Tree Crew, Franklin Templeton, and  GFR.

Based makes it simple for users to exchange NFT content amongst smaller token-gated groups and private chats as well as with their friends and communities. The platform aims to employ NFTs to transform how people develop relationships in a society that prioritizes the digital realm.

What the founder has to say:

Based Cofounder Adam Lurie:

“The most effective membership technique ever developed is NFT. However, people join twenty clubs instead of simply one. These clubs future is changing from homogenous groups to closely knit communities based on similar beliefs and financial resources. Based is constructing for these NFT inner-circle’s future.”

What the investor has to say:

According to Progression Partner Mark Linao:

“New technologies for human communication always birth new networks and platforms developed for those networks.” We are enthusiastic about Based’s plan to become the hub for developing new personal web3 networks.”

More about the company:

Based is the intersection of the inner NFT circles. It facilitates the smooth sharing of significant NFT moments with your sub-communities, alpha groups, and OG chats as they occur.

Based is debuting with MKRS, a specially created NFT collection that divides holders into small communities and offers the chance for deeper user interaction within the app. Based joins a select group of web3 consumer apps, creating a new hybrid model by seeking venture money and establishing its own NFT community. The cash provided by Based will cover essential operations, allowing NFT earnings to be reinvested in the MKRS community. By doing this, the business can advance the NFT community and a product of the highest caliber.

With Solana as a starting point, Based’s tailored feeds make it simple for users to view pertinent NFT activity from their friends, groups, and NFT projects they follow. The platform then narrows down the tens of millions of SOL transactions per day that users care about to just a few. The content can then be easily shared and discussed among users’ friends and NFT inner circles.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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