Ayokenlabs
Aims to catalyse the mainstream adoption of crypto in emerging markets.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $1.4m | Seed | |
| Total Funding | 000k | ||
| USD | 2022 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Ayokenlabs is a London-based company, founded in 2021 by Joshua King and Mathew Munyao, that operates an NFT marketplace connecting creators with a global audience. King, who serves as CEO, has a background in strategy and growth consultancy, including experience scaling the Nairobi-based crypto platform AZA (formerly Bitpesa), which introduced him to blockchain technology. The firm is positioned as a bridge between artists—specifically musicians, sports brands, and influencers from Africa and the global diaspora—and their fans, allowing supporters to gain a sense of ownership in their idols' success.
The company's primary offering is the Ayokenlabs marketplace, which features digital collectibles such as behind-the-scenes videos and album art. Owning these NFTs grants fans exclusive perks, including access to unreleased music, VIP passes for livestreams of music before it hits platforms like Spotify, and discounts on future events. To facilitate ease of use, the platform accepts both cryptocurrency and traditional card payments, with plans to integrate mobile money options to better serve emerging markets. The marketplace is built on the Avalanche blockchain, with intentions to become multi-chain in the future.
Ayoken's business model generates revenue through transaction fees on its platform. A key differentiator is its integrated marketing agency and distribution partnerships with YouTubers, influencers, and crypto exchanges to promote NFT drops. This strategy provides creatives with access to a broader audience beyond their existing social media followers, and distribution partners receive a share of the revenue from transactions they help generate. In May 2022, Ayoken successfully raised $1.4 million in a pre-seed funding round from investors including Founders Factory Africa, Kon Ventures, Crypto League, R9C Ventures, and Maximus Ventures to expand its team and secure exclusive artist deals.
Keywords: NFT marketplace, digital collectibles, creator economy, fan engagement, blockchain technology, African artists, music NFTs, influencer marketing, crypto payments, digital assets, Avalanche blockchain, celebrity NFTs, sports collectibles, afrobeats, exclusive content, pre-seed funding, Joshua King, creator monetization, fan tokens, digital art