Spatial Labs Is Here To change The Game
•Web3 startup Spatial Labs has raised $10 million in its seed funding round, led by Blockchain Capital and backed by Jay-Z’s venture capital firm Marcy Venture Partners.
• The new round brings the startup’s total funding to $14 million and they have developed a 13-millimeter microchip called the LNQ One Chip, which can be sewn or embedded into physical fashion items.
• Founder Iddris Sandu spoke of LNQ’s potential to provide authentication services for luxury brands as well as incentivize buyers to hang onto their physical goods for longer with updates sent directly from brands.
• Sandu envisions his chip technology being used on Polygon due to lower gas fees than Ethereum’s mainnet and not requiring Apple App Store approval like NFTs do currently.
• He also shared that he has a great business relationship with Jay-Z who is an investor in Spatial Labs; bouncing ideas off each other while sharing the same vision of making an impact across cultural divides between Silicon Valley VCs and himself.
Spatial Labs secures seed funding
Spatial Labs, a Web3 startup company, has secured $10 million in a seed funding round led by Blockchain Capital. The impressive list of investors backing this venture includes Jay-Z’s Marcy Venture Partners. This is an especially notable achievement as the Web3 space is notoriously difficult to navigate and bring big investments into. Spatial Labs will be well positioned to capitalize on the potential of distributed networks and peer-to-peer technologies as they pursue their vision of making the internet more data secure and privacy centric. With such influential backing, it will be exciting to see how Spatial Labs succeeds in disrupting the digital landscape for the better.
The new round of funding for startup LNQ has been a fantastic success, with the company now having attracted $14 million dollars in total. This new injection of capital allows the company to further develop what they’ve already achieved; the revolutionary LNQ One Chip. The chip is an incredible 13 millimeters in size and can be stitched or embedded directly into physical fashion items, making them more stylish and interactive without compromising on their original look. Now that LNQ has more money, they will be able to optimize their product to take it to the next level.
The Potential of LNQ One Chip Technology
The LNQ One Chip technology has the potential to revolutionize the way luxury goods are authenticated. This tiny chip can provide authentication services for luxury brands as well as incentivizing buyers to hang onto their physical goods for longer with updates sent directly from brands. These benefits could help protect luxury items from counterfeiting and help increase customer loyalty for these brands. In addition, this technology does not require Apple App Store approval like NFTs do currently, which helps reduce the risk of being hacked or stolen.
The Benefits of Using Polygon Over Ethereum’s Mainnet
Polygon offers many advantages over Ethereum’s mainnet when it comes to using chip technology such as Spatial Labs’ LNQ One Chip. For example, Polygon offers much lower gas fees than Ethereum’s mainnet; this means that transactions on Polygon will cost less money which makes it ideal for use with chip technology. In addition, Polygon also offers faster transaction speeds than Ethereum’s mainnet, meaning that transactions made with chip technology will be processed quickly and efficiently.
Spatial Labs’ Relationship With Jay-Z
Founder Iddris Sandu has a great business relationship with Jay-Z who is an investor in Spatial Labs; they have been bouncing ideas off each other while sharing the same vision of making an impact across culture divides between Silicon Valley VCs and himself. This relationship not only provides financial backing for Sandu’s project but also gives him access to one of the most successful entrepreneurs in hip-hop history who can provide valuable insight into building businesses that make an impact both culturally and financially.
Spatial Labs is making waves in Web3 thanks to its groundbreaking microchip called the LNQ One Chip which can be sewn/embedded into physical fashion items and provides authentication services for luxury brands. The chip technology is being used on Polygon due to lower gas fees than Ethereum’s mainnet, and doesn’t require Apple App Store approval like NFTs do currently; this helps reduce the risk of being hacked or stolen while also providing customers with incentives to buy expensive fashion items from luxury brands by offering updates sent directly from them.
Founder Iddris Sandu also has a great business relationship with rapper Jay-Z who is an investor in Spatial Labs; they are working together towards achieving their shared vision of making an impact across cultural divides between Silicon Valley VCs and himself while providing valuable insight into building businesses that make an impact both culturally and financially through his own experiences as one of the most successful entrepreneurs in hip-hop history. All these factors combine together to make Spatial Labs a major player in Web3!