Web3 tech company U-Topia raised USD 850k from digital asset investment firm GDA Capital as a follow-on investment, according to a press release. GDA Capital executives will provide strategic advice to U-Topia as part of the agreement, the statement reads.

Where the money’s going: U-Topia will use the funds “to develop cutting-edge features and technologies within the U-topia platform, thus enhancing its capabilities and reinforcing its position as a pioneering force at the intersection of the IP and blockchain industries.” The new developments are geared towards helping the company expand internationally, according to the release.

About U-Topia: Based in the UAE, the company was founded in 2021 by Jérémy Mahieu and Nicolas Prévost. U-Topia bills itself as an entertainment company that is “disrupting traditional IP licensing models.” The company taps into intellectual property from Web2 — including GameFi, video games, and content from professional sporting teams — that is “integrated into gamified entertainment products, including video games, music, and movies.”

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