TipLink Raises $6M From Multicoin Capital and Sequoia Capital to Unlock a Novel Distribution Mechanism to Send Digital Assets With a Link

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TipLink's mission is to ease the distribution of crypto assets to accelerate the mainstream adoption of crypto.

Metadata

Provider:

PR Newswire

Retrieved on:

Tuesday, February 21, 2023

Information

Tags:

QR, Non-fungible token, Digital currency, API, Paxos, Sequoia Capital, Friction, Engineering, Food, Internet, NFT, Format International Photography Festival, Cryptocurrency, Sequoia, Asymmetric

Geotags:

NEW YORK

Organisation:

TIPLINK

Summary

Key Points:

TipLink's mission is to ease the distribution of crypto assets to accelerate the mainstream adoption of crypto.
"TipLink is the easiest and most versatile way to send and receive digital assets of all kinds," said Ian Krotinsky, founder and CEO, TipLink.
TipLink solves one of the biggest problems in crypto: how to send digital assets in a frictionless way."
"TipLink explores a novel form factor that makes receiving any crypto asset easier than ever before," said Daniel Chen of Sequoia.

TipLink Raises $6M From Multicoin Capital and Sequoia Capital to Unlock a Novel Distribution Mechanism to Send Digital Assets With a Link

NEW YORK, Feb. 21, 2023 /PRNewswire/ -- TipLink, the easiest way to send and receive digital assets, today announced a $6M seed funding round co-led by Multicoin Capital and Sequoia Capital with participation from Asymmetric, Big Brain Ventures, Circle Ventures, Karatage, Monke Ventures, Paxos, and Solana Ventures, as well as well-known angels Vinny Lingham, Liu Jang and Sarah Guo. The funding will be used to further build out link wallet functionality, improve the API, and expand engineering and business development to support a pipeline of partnerships.

TipLink Raises $6M From Multicoin Capital and Sequoia Capital to Send Digital Assets With a Link

TipLink's mission is to ease the distribution of crypto assets to accelerate the mainstream adoption of crypto. A TipLink is a link that is a crypto wallet. Using TipLink, anyone can deposit and send any form of digital asset—such as NFTs, stablecoins, Solana—to another person whether or not they already have a crypto wallet, which is not currently possible. TipLink can also be used as ultralight, non-custodial wallets that live in the browser.

"TipLink is the easiest and most versatile way to send and receive digital assets of all kinds," said Ian Krotinsky, founder and CEO, TipLink. "There's still a tremendous amount of friction in crypto that holds back mainstream adoption. It's unreasonable to ask the general population to set up a 12- or 24-word seed phrase wallet, much less a hardware wallet, just to send a dollar or receive a commemorative NFT. TipLink solves one of the biggest problems in crypto: how to send digital assets in a frictionless way."

TipLink has seen success since its beta launch in September at the Format Festival, where thousands of NFTs were claimed using QR codes and later spent for food and snacks—obscuring users from complicated crypto technology. Since then, TipLink has been used for everything from gifting, to payments, to giveaways.

"TipLink is a powerful new crypto primitive that represents the idea of 'Digital Cash' better than any other cryptocurrency, asset or tool on the market today," said Spencer Applebaum, Principal, Multicoin Capital. "TipLinks will transform the way digital assets are shared in more casual settings and be a key enabler that help brands and companies experiment with and share digital assets in the future."

TipLink also is launching today its simple API to help developers and companies generate and deposit any number of assets into any number of TipLinks. These TipLinks can then be embedded and shared in emails, text, messaging apps and QR codes, or any other means of digital communication. They are entirely channel agnostic, which makes them extremely versatile across the internet.

"TipLink explores a novel form factor that makes receiving any crypto asset easier than ever before," said Daniel Chen of Sequoia. "We believe TipLink has the potential to onboard the first billion people into crypto, and we're excited to partner with Ian and team as they deliver seamless cryptocurrency sharing."

To learn more about TipLink, please visit https://tiplink.io/ or https://twitter.com/TipLinkOfficial. Contact at: [email protected].

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SOURCE TipLink