Smart Token Labs’ TokenScript quadruples valuation as it raises $6 million

Smart Token Labs’ TokenScript quadruples valuation as it raises $6 million

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Smart Token Labs’ TokenScript quadruples valuation as it raises $6 million

The Block2 months ago
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Published on September 27, 2022 13:00 GMT+00:00edited on September 27, 2022 18:31 GMT+00:00

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Billionaire Fosun International co-founder Liang Xinjun led a $6 million funding round for open-source software company Smart Token Labs's Tokenscript project. 

The company has now quadrupled the valuation of TokenScript from $50 million to $200 million. In July last year, it raised an initial $6 million from investors such as Mark Cuban, Crypto.com, Framework Ventures and Mechanism Capital, it said. 

This latest deal, which closed earlier this month, also involved investors such as HashGlobal, Bodl and Fenbushi Capital, according to an announcement. 

Smart Token Labs raised the money via a simple agreement for future tokens or a SAFT, it said over email. SAFTs are investment contracts offered to investors by startups that agree to the eventual transfer of their native tokens. It will use …