Capsule Corp Labs raises €7.3M in seed funding to create a leader in consulting and deployment of utility NFT solutions

Paris, September 14th, 2022 – Capsule Corp Labs, a platform specialized in the creation and development of utility NFTs, announces that it has raised €7.3 million in a seed round, including €4.8 million in equity from Omnes, two specialized funds, REVAM and Digital Finance Group (DFG), and French business angels from the web3 ecosystem. The transaction is completed by the sale of tokens from Ternoa ($CAPS), the parent company of Capsule Corp Labs, for €2.4 million. This amount is provided to Capsule Corp Labs as part of its development plan.

This seed funding round, with expert investors in deeptech and web3, comes after the sale of €8 million of tokens in 2021 by Ternoa, parent company of Capsule Corp Labs, which develops a blockchain specialized in utility NFTs. The operation will allow Capsule Corp Labs to change scale by strengthening its R&D and expanding its team of 30 people currently, half of whom are developers.

Moving from Collector NFTs to Utility NFTs

Capsule Corp Labs brings a paradigm shift in the way NFTs are used. Despite their recent success and some spectacular examples, NFTs have been mainly collector’s items until now, especially in the luxury and art industries.

Capsule Corp Labs develops NFT solutions for companies in all sectors, enabling them to integrate the value proposition of the web3: ownership of data and digital assets, or federation and engagement of user communities.

A blockchain dedicated to NFT

Capsule Corp Labs started its business in 2022. It is the main integrator of Ternoa, a so-called “layer 1” blockchain infrastructure. Open-source and decentralized, it provides developers with an independent infrastructure that allows them to create utility NFTs.

Start-up studio and web3 consulting

Both a start-up studio and a web3 consulting firm, Capsule Corp Labs’ mission is to help companies of all sizes develop their business model on the Ternoa blockchain.

“Unlike the current NFT market, which operates very much like the art market, based on scarcity value, we believe that NFTs will increasingly have utility value. They will initially be used in the development of sectors such as video games, music and entertainment, or the metaverse, and then gradually spread to other sectors of activity. Our role is to enable this transition from web2 to web3, which can be technologically complex”, explains Clément Téqui, CEO of Capsule Corp Labs and co-founder of Ternoa.

Capsule Corp Labs offers a “business as a service” model to web3 start-ups by providing them with human and technological resources – developers, product managers, etc. – to help them develop NFT. In the space of 6 months, Capsule Corp. Labs has already helped 3 NFT start-ups to launch their product, allowing them to achieve several hundred thousand euros in revenue each.

First use cases of NFT utilities

The second strategic focus is advising companies on the implementation of their web3 solutions. “Our role is to identify with our customers the use cases for the future NFTs and help develop them”, says Clément Téqui. Capsule Corp Labs notably participated in the first half of 2022 in the launch of 20 Mint, the free media dedicated to the blockchain of 20 Minutes, which was noticed by the successful sale of 999 NFT typewriters that financed the operation while gathering a community of enthusiasts.

Capsule Corp Labs also assists Editis, one of the French leaders in the publishing industry, in the identification of real use cases of NFTs for its sector: collaborative editorial work tool, new book format or reader community animation tool. This work led to the launch of Editis’ web3 transformation project.

For the technological endowment fund not.IT affiliated to the Notaires de France, Capsule Corp. Labs designed and developed a solution for the transmission of digital assets, allowing in particular the storage of private content in NFTs and the definition of complex transfer protocols. The first model has been delivered and the project is being validated on a national scale.

Commissioned by the gift box specialist Wonderbox, Capsule Corp. Labs has initiated a project to transform its customer relationship through NFT. The collaboration also allowed to identify solutions to secure the resale of virtual gift boxes.

Capsule Corp. Labs also leveraged specific Ternoa NFT features, such as secret content, to enhance the experience of an online sports game owned by a leading video game company.

“Our open-source infrastructure has been operational since April and is open to all developers and entrepreneurs to create the NFT applications of tomorrow. This round of funding by Capsule Corp Labs will help accelerate the development of the Ternoa ecosystem in France and Europe”, explains Mickael Canu, CEO of Ternoa.

“Ternoa is one of the very few French layer 1 blockchains with a real underlying technological asset. With this investment, the Ternoa team will be able to offer Web3 startups ever richer functionalities, and become the European blockchain platform of reference”, says Fabien Collangettes, Investment Director at Omnes.

“The concept of Business as a Service was first generated from Web2, while Capsule Corp Labs innovates this model and upgrades it into a Web3 style which enables all sizes companies to develop and launch their NFTs products more easily. DFG always has had a strong belief in Ternoa since day 1; its unique open source Layer 1 infrastructure nurtures a bold ecosystem to realize utility NFTs. I’m very positive that under the leadership of Mickael Canu and Clément Téqui, Ternoa and its community will be ahead of the game in no time”, comments James Wo, founder and CEO of DFG.

“We are delighted to have been able to finalize this fundraising with Omnes, a recognized player in the financing of Deep Tech projects requiring significant investments in R&D. In a difficult market context, we will be able to continue to invest in the development of tomorrow’s Web3 infrastructures with our unique value proposition: creating a bridge between Web2 and Web3 architecture”, adds Clément Téqui, CEO of Capsule Corp Labs and co-founder of Ternoa.