Thailand’s SCB 10X invests $1.5m to fund expansion of Token Unlocks

SCB 10X announced its $1.5 million investment to help Token Unlocks grow its team and expand the platform across the globe.

In a statement, SCB 10X, the venture investment arm of Thailand’s SCBX group, said the investment will amplify Token Unlocks’ ability to provide transparency and education on tokenomics data, as well as highlight potential market price impacts from token lockup expirations of the top DeFi and Web3.0 projects.

Token Unlocks is a comprehensive token vesting dashboard and tokenomics insights platform.

According to the statement, Token Unlocks intend to use the investment from its seed funding round to expand its team across the globe to further drive growth to the platform.

“Investing in a tokenomics insights platform that offers unparalleled access to on-chain metrics and information reflects SCB 10X’s mission of expanding the disruptive potentials of blockchain technology,” Mukaya (Tai) Panich, Chief Executive Officer and Chief Investment Officer of SCB 10X.

Panich said Token Unlocks provides the most transparent, accurate tokenomics data that is critical for analysis. And evaluating a project’s tokenomics prior to making any investment is crucial for investors and stakeholders, as whitepaper tokenomics and actual on-chain implementation can vastly differ.

According to the company’s statement, global spending on financial market data and cloud-based software has continued with its decade-long growth streak.

Revenues jumped from 7.4 percent to a record of $35.6 billion in 2021 and is forecasted to further grow by 4 percent year on year to $37 billion in 2022, demonstrating the growing need for transparent market data providers, such as Token Unlocks.

SCB 10X focuses on digital assets, blockchain, the metaverse, and Web3.0 as part of the “Moonshot Mission”, which aims to create long-term value through investing in high potential tech startups globally.

Web 3.0’s data and data analytics, where Token Unlocks plays a significant role, are the key investment areas of SCB 10X.

Tanawat (Poom) Chiewhawan, Chief Executive Officer and Founder of Token Unlocks, said that trust and transparency are the key to sustaining the long-term growth for Web3.0, DAOs and all crypto projects.

Their platform, he said, provides a tool to service the data that is much needed within the industry.

SCB 10X’s values in achieving exponential growth through technology innovation is align with those of Token Unlocks, Chiewhawan added.

Chiewhawan is also grateful that SCB 10X supports their platform with growth, partnership introductions and incubation assistance in addition to their investment.

Token Unlocks is a platform that provides structured and labeled on-chain and off-chain tokenomics data, as well as tailored on-chain monitoring to track token projects.

It enables intuitive and actionable data visualization to connect and align various stakeholders.

The platform’s on-chain data analytics dashboard helps mitigate the need for trust on the protocol level as it also offers tools that track vested tokens, as well as alerts users on upcoming token unlock periods and token information from multiple DAOs.

By using Token Unlocks’ dashboard, traders are able to make educated investment decisions based on the most accurate token information as well as track the dynamic changes of a project.