Echo offers everyday users access to investments otherwise restricted to venture capitalists.
Prominent crypto investor and social media personality Jordan Fish, aka Cobie, said his newly founded investment platform Echo hit a major milestone.
Echo just hit $10 million invested into new startups, less than five months after launch, Fish said on X.
Echo, which launched in beta in April, seeks to provide access to seed-round investments in crypto to a broader audience than venture capitalists. With the goal of making VC investment more accessible, Echo is now available to more than 5,000 early users.
“We have lots to fix and change butwe’re committed to help open access to private crypto investing, and give founders an alternative option to ‘another VC fund’ in their round,” Cobie told The Defiant.
While Echo can not divulge a list of projects funded on its platform due to regulatory restrictions, group leaders have shared information about previous investment opportunities like Holograph and other top-tier startups such as Megaeth are“considering”using Echo.
Echo recently incorporated a referral system, where existing accounts can invite up to three investors to the platform. Otherwise, users must sign up to a waiting list,or try their luck on a gamified approach and play a digital claw machine to win an invite code.
The platform consists of group leaders and individual investors. Group leaders can share access to their investment deals with members of their “club”, and a percentage of profits realized by users goes back to Echo and the deal leads if they choose to enable profit share. This user-aligned revenue structure ensures that Echo and the leads don’t make money unless the users do as well.
On Aug 22, Echo teased upcoming features, including club group chats, auction-style fundraising, and public profiles.
“In a decentralized economy, I think VCs are actually sort of an anti-pattern — concentrated ownership of an instrument intended to decentralize seems like a structural risk to founders,” Cobie said.
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