Cointopia secures $3M in seed funding, launches marketplace for blockchain companies and service providers

Cointopia, a curated ICO platform, has raised $3 million in a seed round and announced the launch of a marketplace for blockchain companies and service providers, VentureBeat reported.

The company said that the marketplace will list distinguishable blockchain vendors for blockchain services from advisory, whitepaper authoring, PR/marketing, blockchain technology development to community management. The service companies currently available include Hybrid Block, Sparkchain, and Token Agency.

According to the official release, Cointopia will use blockchain technology to store the rating for service providers, ensuring that reviews are immutable and accurate, which will support a more transparent ecosystem. This, in turn, would help instill confidence of blockchain companies in the marketplace as they would know that the service providers have been rated by real customers within the platform.

"Leveraging Cointopia's reach into the industry's network, we want to bridge the gap between the companies using blockchain technology and the service providers that can make them successful," said Charles Michael Yim, CEO of Cointopia.

"Filling this void will help promising blockchain projects navigate a crowded blockchain service market and ensure the necessary tools to succeed. We look forward to onboarding more of the blockchain industry's leading players to build a vibrant ecosystem where all sides benefit."

Cointopia explained that marketplace users would be able to manage their project and receive online bids from its pool of professional vendors that specialize in blockchain service needs through the platform. The users would be able to upload request list(s) of Request for Proposals (RFPs), share project info and start date to begin the bidding process.

Founded in 2017, Coinopia is backed by the biggest names in the technology industry, including, Michael Arrington, founder of TechCrunch and partner at XRP Capital; Mark Pincus, Founder, CEO Zynga; Gil Penchina, angel investor in eBay and Paypal), Roger Lim, founding partner at NeoGlobal Capital; Michael Terpin, founder and CEO of the Transform Group; Sonny Singh, chief commercial officer at BitPay; and others.

Based in the United States, the company seeks to expand to Asia as most of the activity is happening there, Yim told VentureBeat. Cointopia is planning to open offices in South Korea and Singapore.