Revuto Raises $2 Million to Support the Development & Growth of Cardano Projects
Image source: Revuto
Blockchain-based subscription management solution, Revuto aims to expand its reach in the Cardano ecosystem via its $2 million R Fund for developers on the blockchain.
Announced during the Infobip Shift conference in Croatia, Revuto will be launching a $2 million private fund, R Fund, with an aim to grow the Cardano ecosystem and boost project development on the blockchain. The private fund will help projects deploy faster on Cardano while preparing for their public sale or initial coin offering (ICO).
Representing the first-of-its-kind fund, Revuto will ensure each project sponsored will have adequate resources and mentorship in their quest to launch their products on Cardano. As an early investor in these projects, Revuto aims to boost the development of decentralized applications (DApps) and the adoption of the recently launched smart contracts of Cardano blockchain.
Launched in 2020, Revuto leverages the Cardano ecosystem and decentralized finance (DeFi) to allow users to pay for their active subscriptions. The platform is designed to save people’s money despite the volatility in the market when they pay for subscriptions, a blog post on the website reads.
Built as a special crypto fund entirely supporting projects and DApps built on Cardano, Revuto is growing to be one of the largest community-builders on Cardano. With the latest private funds, Revuto will incentivize the development and growth of the ecosystem, helping early-stage startups to flourish on Cardano.
The subscription management fund has so far experienced a lot of success - raising $10 million in their REVU token ICO funding which sold out in 10 minutes and welcomed over 2.5 million early signups to its platform, with 100,000 active users across the globe. Additionally, Revuto has launched its app on both iOS and Android app stores. Speaking on the selection of Cardano, Revuto CEO Vedran Vukman said the blockchain offered the best opportunities with its lightning-quick confirmation times, cheap transaction fees, scalability, and recently launched smart contracts.
“We want to support Cardano projects as early as possible. We’re in an incredible position to have the funding, tech, and community ready to support your next project on Cardano,” Vukman said. “The R fund will help with setting projects up for a successful ICO and then using one of the biggest communities to spread the word and help you acquire initial users and backers.”
Apart from the $2 million private fund, Revuto also offers developers and creators additional capital for their project development, support in marketing, connections to the Cardano community, help in launching their ICOs, and also host hackathons.
Revuto is gradually rising the ranks as the largest and most active community on the third-largest blockchain, Cardano. Vukman further targets more Cardano ICOs to launch through their platform in a bid to “grow the ecosystem”.
“We want every developer and token creator to leverage growing power and community of Revuto and R fund when thinking about launching their product,” he concluded.
Finally, Revuto users can subscribe to services on the platform using the Revuto debit card, in-built Cardano wallets, and the DApps can be used to set your subscriptions to active, snooze or cancel them with a few taps of a button.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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