NFT (Non-fungible Token) and digital asset firm Ioconic has raised $1.5m (£1.1m) in a funding round led by Kenetic, a VC firm that specialises in the blockchain ecosystem, with other private investors also participating.

Ioconic provides a turn-key solution for brands and individuals entering the digital asset arena, offering licensing and brand representation, NFT digital art creation, marketing, distribution, and social token creation. To date, it has supported over 150 projects.

“The digital asset market offers immense potential for brands to engage their fanbases in new ways – from games to exclusive experiences – and we’ve barely even scratched the surface yet,” said Ioconic CEO, Jamie Lewis. “Naturally, we see lots of brands wanting to get into the space, but they don’t know the right way to go about it. There are so many platforms and marketplaces out there and you need to think very carefully about who you partner with – if they fail, you’re putting the assets and your brand’s reputation at stake. We manage risk across the board, including limiting exposure to cryptocurrencies for brands that are less comfortable in that arena.

“This investment will allow us to continue partnering with global institutions as well as increasing internal resource – we’re excited to introduce more and more brands to a whole new world of customer engagement.”