Cointopia Raises $3M USD To Build Blockchain PR Marketplace

Blockchain, Investing, News | September 10, 2018 By:

Initial coin offering (ICO) management platform Cointopia has raised $3 million in a funding round to launch a marketplace that will connect blockchain companies to “top-tier service provider.”

Founded in 2017, Cointopia is a community-driven platform led by serial entrepreneur Charles Michael Yim. The startup is backed by the biggest names in the technology industry, including, Michael Arrington (XRP Capital), Mark Pincus (Founder, CEO Zynga), Gil Penchina (Super Angel Investor, eBay, Paypal), Roger Lim (NeoGlobal Capital), Jeremy Gardner (Founder, Augur, Ausum Ventures), Richard Titus (Ark Advisors), Michael Terpin, Sonny Singh, and Mike Costache.

Yim said the funding will be use to create a marketplace that would “bridge the gap” between blockchain companies and the specialized vendors providing services they need to be successful.

“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 Yim. “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.”

The company is planning to list a number of reputable blockchain services, including advisory, white paper authoring, PR/marketing, blockchain technology development, and community management. It has already signed up a few names including Hybrid Block, Sparkchain, Token Agency, and product development firm Very.

The marketplace will also provide a rating system to be stored on a public blockchain. This will ensure that reviews of service providers are immutable and accurate, which will support a more transparent ecosystem. In turn, the blockchain companies will be able to navigate the marketplace with confidence knowing that the service providers have been rated by real customers within the platform.

“Criteria they will be graded on will be things like price, quality, reliability, speed, etc,” Yim said. “Because we are a tech marketplace, we are relying on the clients to give accurate feedback on a vendor’s work and will be storing those reviews on the blockchain.”

Marketplace users would be able to manage their project and receive online bids from its pool of professional vendors. Users would also be able to upload request list(s) of Request for Proposals (RFPs), share project info and start date to begin the bidding process.

“In today’s congested blockchain landscape, founders are faced with an influx of companies providing professional services, many of which are not properly vetted, said Aaron Bensoua, Director at Sparkchain. “As a company that is a leader in the blockchain industry, we are excited to have Cointopia list our company as an official vendor on their marketplace and serve projects that are moving the market forward.”