Shards Protocol raises $2M for Web3 reputation and rewards system

Shards Protocol, a reputation protocol that rewards users for their Web3 milestones, has raised $2 million across multiple funding rounds. Participating in the round were Animoca Brands, Kyber Ventures, and more. Earlier this year, the company announced its expansion from Shards.Tech to Shards Protocol, taking user acquisition and rewards to the next level. Web3 gaming guilds such as Yield Guild Games also made a strategic investment into Shards Protocol. Shards initially started as a software development kit (SDK) layer that allowed game studios to boost their retention rates and average in-game spends by more than 100%, allowing anyone (players, non-players, speculators or just community members) to buy a fraction of that team, which they can buy and sell freely on the marketplace. Multiple games integrated Shards.Tech into their product offerings and game campaigns seeing an increase in retention rate by over 200% in 2024, generating over $400,000 in trading volume using its pri ... Read full article.