While many argue that many meme coins have absolutely no utility, and no potential for utility, HOKK Finance is attempting at changing this assumption. The crypto startup known for the dog-themed meme coin Hokkaido Inu has opened a $10M Series A funding round for the company to become the world’s first utility meme token. Lawrence Hutson, co-Founder and ex-CTO of e-commerce giant Travelocity, is working with the HOKK Finance management team to open this round which is set to close by the end of 2022.
This capital will enable HOKK Finance to build and scale a serious DeFi 2.0 platform which will address the current issues in DeFi protocols such as brand equity as well as compete with meme tokens that presently have zero utility. The startup also has plans to launch a crypto wallet, a crypto-based payment solution for businesses and a DeFi lending platform.
Partnered with and backed by ex-Travelocity executive
Following Expedia’s $280M acquisition of Travelocity in 2015, Lawrence Hutson, co-Founder and ex-CTO of Travelocity has been working in the blockchain world as a computer scientist, an economist in crypto VC and as CTO of over 12 successful crypto projects. Some of those projects include Minterest, PAID Network, Metria Network and AdLunam, just to mention a few.
Hutson has been making strides as CTO of HOKK Finance over the last few weeks. The renowned tech personality finds HOKK’s DeFi offering to be interesting and scalable, supported by his remarks, “HOKK Finance is in a unique position to capitalize on its token, $HOKK, by providing the world’s first DeFi utility meme token. Many of HOKK’s Defi protocols have already been built and are being used by the community, generating revenues for the company, which is helping grow its treasury.”
Shifting from meme to utility
Founded in 2021, HOKK Finance is one of the original meme tokens transforming into a DeFi ecosystem. The startup already offers several other products including a multi-chain bridge, yield generating NFTs and a DeFi aggregator for staking USDC and ETH to major DeFi lenders. The firm, which achieved a market cap of $800M in early 2021 hopes to further build decentralized financial products that challenge modern banking, empowering the masses to do more with their crypto, unlocking crypto in ways never previously imagined.
The company is leveraging the power of its 46 international team members and a highly engaged global community to spread awareness of its native token, $HOKK. HOKK Finance has its eyes set on becoming a crypto unicorn.
“After months of preparation, we’re ready to open a serious round of funding that will secure investor equity in our new company in Dubai and compete against these meme token juggernauts. As we’re offering shares in our new entity, rather than a pure token play, it’s far more beneficial and less risky for crypto investors looking for new opportunities in projects with big teams, powerful communities, and incredible utility like ours,” exclaimed Mark Basa, the Global Brand and Business Manager at HOKK Finance.
