Altcoinist Raises $1.5M Pre-Seed and Seed Round Funding to Develop On-Chain Subscription Tool as a Monetization Solution for Creator Economies

4 July, 2023, Dubai, UAE — Altcoinist, an on-chain gateway giving creators a new way to monetize and grow private communities, has successfully completed its pre-seed and initial seed round of financing, raising over $1.5M.

Altcoinist, an on-chain gateway for creators to effortlessly monetize and cultivate private communities, has successfully concluded its pre-seed and initial seed round of financing, amassing over $1.5M in capital. Their Seed A round is spearheaded by EnigmaFund, a prominent venture capital firm renowned for its investments in web3 startups including SuperChain, Movement Labs, ATOR, Ready Games, Entangle Protocol, ZeroLend, and more.

Emphasizing Altcoinist's role in addressing the pressing issue of creator economy monetization, Silur, Lead Developer at Altcoinist, stated:

“Altcoinist is an interoperable tool creators can use to monetize that also acts as an engine fueling further growth, benefiting both the creator and their community, all powered by smart contract”

The core team at Altcoinist comprises serial founders with extensive experience in the web3 space. Mate Tokay, the founder of Bitcoinist.com and co-founder of Bitcoin.com, joins forces with Silur (Abraham Endre), a Forbes 30 under 30 honoree and Ethereum core developer with contributions to over 50 projects like Monero and Casper Labs. Their collective ventures have brought more than 40 million users into the Web3 ecosystem.

Highlighting their unique approach, Konstantin, Head of Research and Creator at Altcoinist, remarked:

“We’ve built a unique product empowering creators to set up their first business (a private community) in under a minute and start making on-chain recurring income. With us, everyone finally gets a fair chance at making a significant and sustainable living from value-based content”

Having garnered support from dozens of creators and generating over 55 million organic impressions on Twitter/X this year, Altcoinist has attracted significant attention even in its early stages. This culminated in EnigmaFund's involvement in Altcoinist’s Seed A round, a testament to their vision and potential. The fund is renowned for backing and advising projects that push the boundaries of blockchain technology:

“Our investment and partnership will enable Altcoinist to accelerate its development and bring its innovative solutions to a wider audience”

In addition to EnigmaFund's participation, Altcoinist has also secured capital from AlphaCrypto Capital, Explore Capital, Crypto Society, MoonbootsDAO, and Excelsior.

Moreover, Altcoinist is backed by a distinguished group of backers and advisors, including Theodore Agranat (Advisor of Gunzilla Games, Movement Labs, Gaimin), Rich Robinson (Entrepreneur in Residence at Animoca Brands), Thomas McLeod (5x founder with exits to Coinbase, SurrealCMS, and Tencent), Aleksander Rendtslev (4x founder with ventures backed by a16z and General Catalyst), Austin Seiberlich (Advisor of Entangle, Superchain, Ready Games, ZeroLend), and Coco (Founder of TOSHI).

Expressing enthusiasm about the partnership with EnigmaFund, Altcoinist's CEO, Christian Andsberg, stated:

“We are thrilled to have EnigmaFund lead our round and join our advisory board. Their expertise and support will be invaluable as we’re paving the way for a more evolved creator economy.”

Having designed a platform that enhances user value and ecosystem value as it scales, Altcoinist is poised to become a key player in the creator economy as they grow. Their unique focus on simple user deployment while abstracting the complexity of smart contracts sets them apart as a leader in the rapidly evolving space of web3. Altcoinist is now raising a follow-on Seed B round to aid their go-to-market efforts. The platform is built on Base chain, ensuring a robust and scalable EVM infrastructure.

For more information about Altcoinist and its upcoming developments, follow them on x.com.

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