# 🚀 Startup #17: Co:Create

By [Ali Shaikha](https://paragraph.com/@alishaikha) · 2022-05-20

---

**Segment:** NFT / **Business Model**: B2B / **Stage**: Seed

[https://www.usecocreate.io/](https://www.usecocreate.io/)

* * *

**Purpose**: Help NFT projects launch their own cryptocurrencies

**Problem**: NFT projects limit their reach and users to the owners of their NFTs. If they want to bring more people into their ecosystem they would need to launch more NFTs, which would impact value and hype - and not be affordable for everyone

**Solution**: Infrastructure and tooling for NFT projects to launch their own token, this way projects can reach a wider audience.

**Team**:

*   [Tara Fung](https://www.linkedin.com/in/tarafung/) - Co-founder and CEO
    
*   [Alberto Simon](https://www.linkedin.com/in/albertosimon/) - Co-founder and CPO
    

**Traction:**

*   Funding: Raised $25m seed round (❗️) in May 22 led by a16z, and contribution from Autograph, RTFKT, Fractional.art, VaynerFund, Not Boring Capital and Amy Wu
    
*   Progress: Website and develop tools to launch in the summer and the beta product in the fall
    

**Positive Signals:**

*   Investors: Big names with deep pockets, a16z will unlock a huge network
    
*   Team: Tara is ex-CRO at AltoIRA and ex-CCO at Commonbond, also a HBS grad. Alberto comes from being the Director of Product for NFTs at Gemini and founded a few companies (Payability, Masterworks). They have the making for a solid team. There are also 2 other co-founders that haven’t been named yet, as they wrap up their current roles
    
*   Value Add: Creating a token is easy, it’s the parts that come with it. They are adding value by (1) Expanding communities (2) Incentivize interaction (3) Governance
    

**Risks**:

*   Self-serve: Creating a token is simple, will the other infrastructure pulls be enough to justify commercializing Co:Create
    
*   Overfunding: A $25M seed round is absolutely insane, interesting to see how they spend it. With so much money comes a lot of responsibility

---

*Originally published on [Ali Shaikha](https://paragraph.com/@alishaikha/startup-17-co-create)*