PANews, March 26: According to Tech in Asia, the luxury watch lottery platform watch.fun has raised $8.6 million in funding, led by Crypto.com Capital and Solana Ventures, with participation from Spartan Capital, Animoca Brands, and others. Built on Solana, watch.fun offers weekly watch lotteries with entry tickets starting at $19, giving users a chance to win timepieces such as the Rolex Daytona, Audemars Piguet Royal Oak, and Patek Philippe Nautilus. Each lottery is verifiable on-chain and “provably fair.” Watches are sourced, authenticated, and shipped by partner Wristcheck. The new funds will be used for product development, expanding the drop catalog, compliance and licensing, global business expansion, and team growth. The platform also plans to introduce tiered memberships and referral rewards.
Luxury Watch Raffle Platform watch.fun Secures $8.6M in Funding Led by Crypto.com Capital and Solana Ventures
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Summary
The luxury watch raffle platform watch.fun has raised $8.6 million in funding, led by Crypto.com Capital and Solana Ventures, with strong support from liquidity and crypto markets. Investors include Spartan Capital and Animoca Brands. The Solana-based platform hosts weekly raffles for premium watches such as the Rolex Daytona and Audemars Piguet Royal Oak, with tickets starting at $19 and on-chain verification to ensure fairness. Wristcheck handles procurement, authentication, and shipping. The new capital will support product development, catalog expansion, compliance, global growth, and team hiring. Future plans include tiered memberships and referral rewards, with capital gains tax considerations integrated into upcoming compliance efforts.
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