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Calaxy Raises $7.5M in Funding to Develop Fan App

3 min read

Calaxy, an open social media marketplace populated and run by creators, has successfully raised $7.5 million in funding via private investments. 

Calaxy and its creators got some good news this morning as it was announced that the team has raised $7.5 million in funding via investments and grant support. Calaxy is also known as the “Creator’s Galaxy,” and is a new social media app designed by creators, for creators. The app is aimed at giving creators a more direct line to fans in order to provide unique experiences using blockchain technology.

According to Calaxy’s website, “Our sights are set on a decentralized future where Creators will be able to foster, empower, and incentivize their communities via custom Creator tokens, while simultaneously reaping the benefits of the first fully-integrated Creator Economy.”

In a nutshell, Calaxy’s goal is to bring fans and creators closer by introducing a number of digital features including video calls, voice texting, masterclasses, and fan club memberships. The platform gives the ability to schedule a short video chat with your favorite athlete or take a one-on-one masterclass from a celebrity chef. All the features are built into the app. What makes Calaxy unique is its usage of fan tokens. Calaxy Creator tokens offer artists a new way to engage with supporters meanwhile Calaxy Collectibles allow them to mint and sell non-fungible tokens (NFTs).

Creators just need to create a token, then fans can purchase them in order to unlock additional perks and experiences. Tokens will allow fans to vote on things like what song a band will sing first at their next concert or what color shoes your favorite player will wear in their next game. 

Calaxy has a lot of big names involved

A number of heavy hitters stepped up to invest in Calaxy including Genesis Block Ventures, Animoca Brands, and RedBeard Ventures. Behind the scenes, Calaxy also has a roster full of notable figures. The company recently announced that Dapper Labs founder and CEO, Roham Gharegozlou, had been appointed as a strategic advisor. Adrian Lai. The CEO of Liquefy and Rahul Kathari from Bluesky are other important pieces of the team. 

Calaxy is also working on getting the big names where they really count. The list of creators. So far, Calaxy has snatched up a number of high-profile names from sports, art, entertainment, and even social media to become creators. Among them is Ezekiel Elliot of the Dallas Cowboys, Matt James from the Bachelor, reigning ‘Sexiest Woman Alive’ Teyana Taylor, and NBA coach Luke Walton.

Calaxy has also onboarded social media personalities Eric Struk, Chozus, and Chaz Smith as creators on the app. Spencer Dinwiddie also joins the mix as not only a creator based on his career in the NBA, but he also serves as the CEO of Calaxy. 

COO and Co-Founder at Calaxy, Solo Ceesay, spoke about the project and the A-list celebrities involved. “Social media should be about building connections and bringing creators and fans closer together. We’re honored to have received the support of such high-caliber investors who will aid us in our vision of building a more meaningful, consolidated social media platform.”

The post Calaxy Raises $7.5M in Funding to Develop Fan App appeared first on BeInCrypto.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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